Question

HELP PLEASE :(

a big screen TV is purchased for $2000 and depreciates by 2.5% per year. What is the value, in dollars, of the TV after 3 years?

Answer 1

Ok so work out 2.5% of $2000 then take that from the initial value of $2000

Answer 2

thanks!

Answer 3

2.5% of $2000 is $50.
Therefore the value of the television after 1 year is $1950

Answer 4

Now work out 2.5% of $1950 then take that from the value of the television at the start of that year.

Answer 5

2.5% of $1950 is $48.75
Therefore the value after 2 years is $1950-48.75 = $1901.25

Answer 6

Now lastly work out 2.5% of $1901.25 then take that from the value of the television at the start of that year.

Answer 7

2.5% of $1901.25 is $47.53125
Therefore the value after 2 years is $1901.25-$47.53125= about $1853.72 after 3 years