Question

3. Daniel's Print Shop purchased a new printer for $35,000. Each year it depreciates at a rate of 5.2%. Find

its approximate value after 8 years.
.062
Exponential Function
Solve

Answer 1

The answer would be ≈$20,440

If it depreciates at a rate of 5.2% each year, for 8 years
5.2•8=41.6
Divide 35,000 by 100 to get how much each percent would be worth
35,000/100=350
Multiply 350 by 41.6 to get the amount of money depreciated out the total price
350 • 41.6 = 14,560
Than subtract 14,560 out of 35000 to see the current price of the printer
35,000 - 14,560 = 20,440