A $25,000 purchase decreases 12% in value per year. Determine the values of the purchase after 3 years and after 7 years.

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asked Nov 23, 2019 120k views

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Robince · Answer 1 · 2019-11-27T03:00:31+0000

After the 3 years, the depreciation amount is $2,323.20 and the value is $17,036.80
After the 7 years, the depreciation amount is $1,393.22 and the value is $10,217.05

A $25,000 purchase decreases 12% in value per year. Determine the values of the purchase after 3 years and after 7 years.

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