A certain machine annually loses 30% of the value it had at the beginning of that year. If its initial value is $23,000, find its value at the following times.
(a) The end of the sixth year
(b) The end of the eighth year
(a) Which of the following expressions will calculate the value of the machine at the end of the sixth year?
? ?. (23,000)(0.7)$^{7-1}$
??. (23,000)(30)$^{7-1}$
OC. 23,000 + (7 - 1)(0.7)
OD. (23,000)(0.7)$^{7}$
The value of the machine at the end of the sixth year is approximately $
(Round to the nearest integer as needed.)
(b) The value of the machine at the end of the eighth year is approximately $
(Round to the nearest integer as needed.)