Answered

Explore Westonci.ca, the premier Q&A site that helps you find precise answers to your questions, no matter the topic. Join our platform to connect with experts ready to provide precise answers to your questions in various areas. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

1. Tiffany bought a phone for $350. If the value of the phone depreciates at a rate of 6%
per year, what would you pay for the phone after 3 years?

Sagot :

Answer:

Amount of phone after 3 year = $290.7 (Approx.)

Step-by-step explanation:

Given:

Amount of phone = $350

Depreciation rate = 6% = 0.06

Find:

Amount of phone after 3 year

Computation:

A = p[1-r]ⁿ

Amount of phone after 3 year = Amount of phone[1-Depreciation rate]ⁿ

Amount of phone after 3 year = 350[1-0.06]³

Amount of phone after 3 year = 350[0.94]³

Amount of phone after 3 year = 350[0.83054]

Amount of phone after 3 year = $290.7 (Approx.)

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.