Answered

Get the answers you need at Westonci.ca, where our expert community is dedicated to providing you with accurate information. Experience the ease of finding reliable answers to your questions from a vast community of knowledgeable experts. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A 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 committed to providing you with the best information available. Return anytime for more. We're glad you chose Westonci.ca. Revisit us for updated answers from our knowledgeable team.