Amber bought a condominium at a time when prices were at their highs. She paid $200,000. Since then, the market value has decrease by 5% per year. Write an exponential depreciation equation to model this situation. Approximately when will Amber's condominium be worth less than $140,000?
Accepted Solution
A:
Answer:$140,000(1 - .05)^tStep-by-step explanation:you have your total amount $140,000it is decreased by 5% go behind the number and move two decimal points and you get .05since is decreasing it would be 1 subtracted by ,05 $140,000(1 - .05)^t"t" is the years it would be depreciated by I do not see years but by knowledge i would say it is decreasing