value of the chocolate machine after 6 years. is $53,512 .
Step-by-step explanation:
Here we have , A new chocolate machine was purchased for $93000 in this financial year. It depreciates at the rate of 8.8% p.a. We need to find the value of the chocolate machine after 6 years. Let's find out:
Value of chocolate in after 1 year = [tex]93000-\frac{93000(8.8)}{100}[/tex] = $84,816
Value of chocolate in after 2 years = [tex]84816-\frac{84816(8.8)}{100}[/tex] = $77,352
Value of chocolate in after 3 years = [tex]77325-\frac{77352(8.8)}{100}[/tex] = $70,545
Value of chocolate in after 4 years = [tex]705454-\frac{70545(8.8)}{100}[/tex] = $64,337
Value of chocolate in after 5 years = [tex]64337-\frac{64337(8.8)}{100}[/tex] = $58,675
Value of chocolate in after 6 years = [tex]58675-\frac{58675(8.8)}{100}[/tex] = $53,512
Therefore, value of the chocolate machine after 6 years. is $53,512 .
