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OpenStudy (anonymous):
A tractor costs $15,450 and depreciates in value by 14% per year. How much will the tractor be worth after 3 years?
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OpenStudy (stamp):
- 14 % = 86% Original value * 86% = 1 year Original * 86% * 86% = 2 year Original * 86% * 86% * 86% = 3 year Or, we could just say\[original(86\%)^x\]Where x = years So $15,450(0.86)^3
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