Answer:
$5,308.42
Step-by-step explanation:
(see attached for reference)
recall that the formula for Depreciation
is given by
A = P ( 1 - r)^t,
where
A = final amount
P = principal amount = given as $6,000
r = depreciation rate = given as 4% = 0.04
t = time in years = given as 3,
Simply substitute these into the equation to get:
A = P ( 1 - r)^t
= 6000( 1 - 0.04) ^ 3
= 6000 (0.96)^3
= $5,308.42
