Question

12250 depreciates by 6% per year how much is the tractor worth after six years

Answer 1

`\qquad \textit{Amount for Exponential Decay} \\\\ A=P(1 - r)^t\qquad \begin{cases} A=\textit{current amount}\\ P=\textit{initial amount}\dotfill &12250\\ r=rate\to 6\%\to (6)/(100)\dotfill &0.06\\ t=years\dotfill &6\\ \end{cases} \\\\\\ A=12250(1 - 0.06)^(6)\implies A=12250(0.94)^6\implies A\approx 8450.90`