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Drake buys a ring that costs $8,000, which depreciates at a rate of 9.5% per year. What is the value of Drake's ring after 7 years? Round to the nearest cent.
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Drake buys a ring that costs $8,000, which depreciates at a rate of 9.5% per year.

What is the value of Drake's ring after 7 years? Round to the nearest cent.

User Roghayeh Hosseini
by
5.8k points

1 Answer

4 votes

Answer:

$1129.93

Explanation:

100 - 9.5 = 90.5

8000 - 90.5 = 7909.5

7909.5 รท 7 = 1129.93

i hope this helps

User Zhangyangyu
by
6.1k points
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