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2. A tractor has a depreciation rate of 19% per year. If the original price of the tractor was $29,000, what was the value of the tractor 5 years later?​

2. A tractor has a depreciation rate of 19% per year. If the original price of the tractor was $29,000, what was the value of the tractor 5 years later?​
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2. A tractor has a depreciation rate of 19% per year. If the original price of the tractor was $29,000, what was the value of the tractor 5 years later?​

User Lukas Novak
by
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1 Answer

5 votes

19%; 100% - 19% = 81% = .81

29,000(.81)^5 = $10,111.67

User Klogd
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8.6k points
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