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OpenStudy (anonymous):
John bought a new cello for %1,000. It depreciates 8% per year. How much can he expect to sell it for in 6 years? Please help me? I am super confused with anything math related. Thanks!
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OpenStudy (animallover8):
1000% or $1000?
OpenStudy (anonymous):
$1000 . Didn't notice that typo .
OpenStudy (animallover8):
8% of $1000 is $80. After 6 years that adds up to: $80x6=$480. Subtracting that value from the original price you end up with a depreciation of 48%. He can sell it for 48% less which is $520. That help?
OpenStudy (anonymous):
Yes! That made so much sense! Thank you!
OpenStudy (animallover8):
No problem hon. :)
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