A $60,000 machine depreciates in value at a rate of 11% per year. About what will its value be in 5 years?

Question

A $60,000 machine depreciates in value at a rate of 11% per year.  About what will its value be in 5 years?

loopdeloop · Accepted Answer

This is a Deperciation problem right. 60,000(1-.11)^5 It should give you $33,504.36. Someone check me on this please. But I think this is right what I did. If anyone has comments please post.

Mia · Answer

12000 i think

loopdeloop · Answer

Double check ur work Mia. Your doing your math wrong.

Lyvia · Answer

$33,504 (I took the test and this was the correct answer)

Gnash · Answer

Its $33,504 I did it and got that too. UwU