Final answer:
To calculate the worth of a conference table after depreciating at a rate of 12% per year for 4 years, we can use the formula Final Value = Initial Value x (1 - Depreciation Rate)^Number of Years. By substituting the given values into this formula, we find that the worth of the conference table is $672.22.
Step-by-step explanation:
To calculate the worth of the conference table after depreciating at a rate of 12% per year for 4 years, we need to find the final value. We can use the formula:
Final Value = Initial Value x (1 - Depreciation Rate)^Number of Years
Applying the values given, Initial Value = $960, Depreciation Rate = 12% = 0.12, and Number of Years = 4, we can plug them into the formula:
Final Value = $960 x (1 - 0.12)^4
Simplifying, Final Value = $960 x (0.88)^4 = $672.22.
Therefore, the worth of the conference table after 4 years of depreciation is $672.22.