Question

Drake buys a ring that costs $8,000, which depreciates at a rate of 9.5% per year.
What is the value of Drake's ring after 7 years? Round to the nearest cent.

Answer 1

Answer:

$1129.93

Step-by-step explanation:

100 - 9.5 = 90.5

8000 - 90.5 = 7909.5

7909.5 ÷ 7 = 1129.93

i hope this helps