A tool and die company buys a machine for $\$ 175,000$ and it depreciates at a rate of 30$\%$ per year. In other words, at the end of each year the depreciated value is 70$\%$ of what it was at the beginning of the year.) Find the depreciated value of the machine after 5 full years.
Added by Jose Ignacio D.
Step 1
Given that the machine depreciates at a rate of 30% per year, the depreciated value after 1 year is $175,000 \times 0.70 = $122,500. Show more…
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A tool and die company buys a machine for 175,000 dollars and it depreciates at a rate of $30 \%$ per year. (In other words, at the end of each year the depreciated value is $70 \%$ of what it was at the beginning of the year.) Find the depreciated value of the machine after 5 full years.
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