Question

A tractor costs $16,900 and depreciates in value by 13% per year. How much will the tractor be worth after 8 years?

Answer 1

Answer: $-676

Explanation:

Multiply 13% or 0.13 by the 16,900 to get 2,197. Multiply the 2,197 by 8 because that’s how many years there are and you get 17,576 then subtract that from the 16,900 to get -676 which means that the tractor would be worth pretty much nothing