Caressa96 Group Title Question: A smartphone currently is worth \$175 and depreciates at 25% per year. What will the value be in 3 years? What equation do I use to solve this? 2 years ago 2 years ago

1. satellite73 Group Title

loses 25% of its value means it retains 75% of its value use $$175\times .75^t$$

2. srev98 Group Title

eqquation close to p=(1+r/100)^n n=number of years compound interest

3. satellite73 Group Title

or if you prefer $$175\times (\frac{3}{4})^t$$ either way you want $$175\times (.75)^3$$ and a calculator is needed for this one

4. srev98 Group Title

well done satellite

5. Caressa96 Group Title

Thanks guys.(: