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(Solved): A washing machine costs 450 and depreciates at a rate of 15% per year. a) Write an equation for ...
A washing machine costs €450 and depreciates at a rate of 15% per year. a) Write an equation for FV, the future value, in €, of the washing machine after n years. b) Calculate the value of the washing machine after 4 years. Give your answer to the nearest cent. c) Find the value of the washing machine after 100 years and comment on this result.