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Emma pays $2,600 for a washer/dryer combo. Each year, the appliance loses 15% of its resale value. How much will it be worth in 4 years?

Question

Emma pays $2,600 for a washer/dryer combo. Each year, the appliance loses 15% of its resale value. How much will it be worth in 4 years?

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Solution

To calculate the value of the washer/dryer combo after 4 years, we need to apply the annual depreciation rate of 15% to the initial value of $2,600 for each of the 4 years.

Here are the steps:

  1. Calculate the annual depreciation amount: 15/100 * 2,600=2,600 = 390. This is how much value the washer/dryer combo loses each year.

  2. Subtract the annual depreciation from the initial value for each year:

    • After 1 year: 2,600−2,600 - 390 = $2,210
    • After 2 years: 2,210−2,210 - 390 = $1,820
    • After 3 years: 1,820−1,820 - 390 = $1,430
    • After 4 years: 1,430−1,430 - 390 = $1,040

So, the washer/dryer combo will be worth $1,040 after 4 years.

This problem has been solved

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