Question

Suppose that a piano costs $5,000 and loses 20% of its value each year. What will be the value of the piano after 16 years? A. $219.90 B. $274.88 C. $140.74 D. $175.92

Answer 1

The answer is c 140.74 bucks or pound

Answer 2

Based on the information given will be the value of the piano after 16 years is : C. $140.74.

Using this formula

Time=Principal(1-rate)^n

Where:

Principal=$5,000

Rate=20%

Number of year=16 years

Let plug in the formula

Time=5,000(1-0.20)^16

Time=5,000(.80)^16

Time=$140.737

Time= $140.74 (Approximately)

Inconclusion  the value of the piano after 16 years is : C. $140.74.

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