Question

Daniel's print shop purchased a new printer for $35,000. Each year it depreciated at a rate of 5%. What will it's approximate value be at the end of the fourth year?

Answer 1

$28,507.72

Explanation:

y=35000 (1- .05)^4

y=35000 (.95)^4

y=35000(.81451)

y=28507

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Answer 2

28,000

Explanation:

do 5% times 4% and you will get 20% and then change 20% to a decimal and multiply 0.20 times 35,000 and you should get 7000 then subtract 35,000 - 7000 and you should get 28,000