Answer:
$26398.997
$22,832.492
$19,747.822
$15884.299
$11050.522
Step-by-step explanation:
Given the following:
Purchase price (P)= $32,820
Average depreciation rate per year (r) = 7% = 0.07
Purchase year= 2014
Price in 2017:
t = 3
Value(V) = P(1 - r)^t
V = 32820(1-0.07)^3
V = 32820(0.93)^3 = $26398.997
Price in 2019:
t = 5
Value(V) = P(1 - r)^t
V = 32820(1-0.07)^5
V = 32820(0.93)^5 = $22,832.492
Price in 2021:
t = 7
Value(V) = P(1 - r)^t
V = 32820(1-0.07)^7
V = 32820(0.93)^7 =$19,747.822
Price in 2024:
t = 10
Value(V) = P(1 - r)^t
V = 32820(1-0.07)^10
V = 32820(0.93)^10 = $15884.299
Price in 2019:
t = 15
Value(V) = P(1 - r)^t
V = 32820(1-0.07)^15
V = 32820(0.93)^15 = $11050.522
