It is determined that the value of a piece of machinery declines exponentially. A machine that was purchased 3 years ago for $74000 is worth $42000 today. What will be the value of the machine 6 years from now? Round any intermediate calculations to at least four decimal places, and round your answer to the nearest cent.

It is determined that the value of a piece of machinery declines exponentially. A machine that was purchased 3 years ago for $74000 is worth $42000 today. What will be the value of the machine 6 years from now? Round any intermediate calculations to at least four decimal places, and round your answer to the nearest cent.

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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