Bought a printer for $35,000. each year it depreciates 5%. what is the value after 4 years

The value after 4 years is $ 28507.71

Solution:

bought a printer for $35,000 and it’s value is depreciating at the rate of 5% every year  

We have to find it’s value after 4 years

The value after 4 years is calculated using the formula:

where "p" is the initial amount

"r" is the rate of depreciation

"n" is the number of years for which the price is to be calculated

Here p = 35000 and r = 5% and n = 4

Hence the value after 4 years is $ 28507.71