Question

Last year you purchase equipment in the HIM department for $14,250. You have been told that the equipment you bought has depreciated in value by 20%. What is the value of the equipment now

Answer 1

The value of the equipment is $11,400

Explanation:

Percents are represented by the following equation:

`\text{ Total}\cdot(percent)/(100)=\text{ Equivalent number to the percent}`

Then if your purchase was $14,250 and it depreciated by 20%;

`14,250\cdot(20)/(100)=2,850`

Now, the value of the equipment is:

`\text{ \$14,250- \$2,850= \$11,400}`

The value of the equipment is $11,400