FINANCE calculate the number of years it would take for a machine valued at $11 000 to drop below $7000 in value if the rate of depreciation is 14% p.a. Pls show full working out ty :)

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asked Sep 16, 2021 126k views

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FINANCE

calculate the number of years it would take for a machine valued at $11 000 to drop below $7000 in value if the rate of depreciation is 14% p.a.

Pls show full working out ty :)

Mathematics
middle-school

Gurpreet asked

by Gurpreet

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y=a(1-r)^t (t being the number of years) so 7000=11000(1-.14)^t = 7000=11000(.86)^t the answer is 2-3 years

Nicolas Guillaume answered Sep 21, 2021

by Nicolas Guillaume

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