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Caressa96
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?
loses 25% of its value means it retains 75% of its value use \(175\times .75^t\)
eqquation close to p=(1+r/100)^n n=number of years compound interest
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