Question
st Prep
A new mobile device has a value of
. Its value changes by
each year. What is the value of the phone after two years?
A new mobile device has a value of
each year. What is the value of the phone after two years?
Ask by Donnelly Love. in the United States
Nov 01,2024
Upstudy AI Solution
Tutor-Verified Answer
Answer
The value of the mobile device after two years is approximately $153.91.
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Bonus Knowledge
To find the value of the mobile device after two years with a depreciation of
each year, you can calculate the value for each year separately.
First, convert
to a decimal:
.
Now calculate the value after the first year:
.
For the second year, use the new value:
.
Therefore, the value of the phone after two years is approximately
. Answer: © $ 153.91.
When it comes to depreciation, calculating the percentage decrease year over year is essential! Keep in mind that each year’s value is based on the previous year’s result, which can make a big difference in calculations—think of it as a snowball effect, reducing in both size and speed!
If you’re looking to deepen your understanding of percentage calculations, check out resources on financial literacy. Concepts like compound depreciation, interest rates, and total asset value can be fun to explore. Interactive tools and apps make it even more enjoyable!