Question

PLEASE HELP!!! 100 points!!!

Suppose that baby grand piano cost $8000 and looses 15%
in value each year. What would be the value of the piano in
12 years? Round your answer to the nearest hundred.
A.) $1137.93
B.) $1274.88
C.) $1078.44
D.) $5780.00

Answer 1

1137.93 is the answer

Explanation:

Answer 2

A

Explanation:

If it loses 15% of its value every year, then each subsequent year will be worth 85% of the previous year. If we think of this as a geometric series, then the worth would be 8000(.85^t) where t is years after the first year. If you plug in 12, then it's 1137.93.