Help!! I'm having trouble in this section of my homework. Mind helping me out?

A tractor was purchased for $30,000 six years ago. What is the value of the tractor today if the depreciation rate was 2.5%?

A. $4,227.95
B. $5,339.36
C. $25,772.05
D. $29,552.80

Question

Help!! I'm having trouble in this section of my homework. Mind helping me out?

A tractor was purchased for $30,000 six years ago. What is the value of the tractor today if the depreciation rate was 2.5%?

	A.	$4,227.95
	B.	$5,339.36
	C.	$25,772.05
	D.	$29,552.80

pooja195 · Answer

Hey there! Welcome to openstudy! consider reading the CoC: http://openstudy.com/code-of-conduct Heres a link that will help you get to know the site better: http://openstudy.com/study#/updates/548c04e1e4b0f2fbdc23dd6c

pooja195 · Answer

Well do you have an answer?what do you think?

anonymous · Answer

well @pooja195 I'm not exactly sure what to do with this problem.

pooja195 · Answer

do you atleast know where to start?

anonymous · Answer

@19mjodrie  its C :)

anonymous · Answer

would you do the A=C(1−r)t thingy?

pooja195 · Answer

yep :) @Bree123  quit giving direct answers

anonymous · Answer

Okay, thanks!

anonymous · Answer

@pooja195 I think i'm doing something wrong.

pooja195 · Answer

Ok show me your work