Question

A tool and die company buy a machine for N175,000 and it depreciates at a rate of 30% per year. (In other words, at the end of each year the depreciated value is 70% of what it was at the beginning of the year.) Find the depreciated value of the machine after 5 full years. 

Answer 1

value of the machine after 5 full years:

$175000\cdot0.7^5=29412.25$