Resale Value Garland Mills purchased a certain piece of machinery 2 years ago for $500,000. Its present resale value is $300,000. Assuming that the machine's resale value decreases exponentially, what will it be (in dollars) 5 years from now? (Round your answer to the nearest dollar.)
Resale Value Garland Mills purchased a certain piece of machinery 2 years ago for $500,000. Its present resale value is $300,000. Assuming that the machine's resale value decreases exponentially, what will it be (in dollars) 5 years from now? (Round your answer to the nearest dollar.)
College Algebra
7th Edition
ISBN:9781305115545
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter8: Sequences And Series
Section8.4: Mathematics Of Finance
Problem 26E
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![Resale Value Garland Mills purchased a certain piece of machinery 2 years ago for $500,000. Its present resale value is $300,000. Assuming that the machine's resale value
decreases exponentially, what will it be (in dollars) 5 years from now? (Round your answer to the nearest dollar.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7ef2aea6-ca63-493c-95d5-a7314878e877%2F9fc39456-1226-4a33-ad41-8124aeaeae1c%2F56lm2z_processed.png&w=3840&q=75)
Transcribed Image Text:Resale Value Garland Mills purchased a certain piece of machinery 2 years ago for $500,000. Its present resale value is $300,000. Assuming that the machine's resale value
decreases exponentially, what will it be (in dollars) 5 years from now? (Round your answer to the nearest dollar.)
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