Question

A tractor cost $9250 and depreciates in value by 12% per year. How much will the tractor be worth after 5 years?

Please answer ASAP!

Answer 1

$3,700

Explanation:

12% of 9,250 is 1,110

so each year 1,110 is subtracted from the original price of the tractor.

So if you subtract 1,110 five times from 9,250 you get 3,700.