Question

Edith purchased a stove for $950. It depreciates about 0.7% each year. What is the value of the stove after six years?

A. $946.68
B. $943.35
C. $910.79
D. $990.60

Answer 1

C

Explanation:

Beause it still retains %99.3 of it's value we can write the following equation

950(.993)^x

where x is years

950(.993)^6=910.7918=C