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The value of a machine, V. at the end of t years is given by V = C(1-r)'. where C is the original cost and r is the rate of depreciation. Find the value of a machine at the end of 3 years if the original cost was $1963 and r = 0.2. Round to the nearest cent.

The value of a machine, V. at the end of t years is given by V = C(1-r)'. where C is the original cost and r is the rate of depreciation. Find the value of a machine at the end of 3 years if the original cost was $1963 and r = 0.2. Round to the nearest cent.

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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The value of a machine, V, at the end of t years is given by V = C(1-r)'. where C' is the original cost and r is the rate of depreciation. Find the value of a machine at the end of 3 years if the original cost was $1963 and r = 0.2. Round to the nearest cent.
Transcribed Image Text:The value of a machine, V, at the end of t years is given by V = C(1-r)'. where C' is the original cost and r is the rate of depreciation. Find the value of a machine at the end of 3 years if the original cost was $1963 and r = 0.2. Round to the nearest cent.
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