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Answer to Question #77722 in Financial Math for Londiwe
Question #77722
A farmer buys a tractor for 450000.
-how much will the tractor be worth in 5 years time if it's value depreciates at 9% per annum on a reducing balance.
-how much will the tractor be worth in 5 years time if it's value depreciates at 9% per annum on a reducing balance.
Expert's answer
If a farmer buys a tractor for 450000 and
if it's value depreciates at 9% per annum on a reducing balance, then in 5 years time the tractor will be worth 450000/1.09^5 = 292469.12.
if it's value depreciates at 9% per annum on a reducing balance, then in 5 years time the tractor will be worth 450000/1.09^5 = 292469.12.
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