Question

A piece of equipment costs $50,000 new, but depreciates 15% per year in each succeeding year.

Find its value after 10 years.

Answer 1

-$25,000

Explanation:

15% of $50,000 is $7,500 Therefore..

10 x $7,500 = $75,000 ( 10 being the amount of years and 7500 being the 15% )

$50,000 - $75,000 = -$25,000

Hope this helps!!

-Conrad