Daniel's Print Shop purchased a new printer for $35,000. Each year it depreciates at a rate of 5%. Use an exponential function to find its approximate value after 8 years.

Answer 1

Value, V = V₀(1-depreciation)^t where t is in years, V₀ is the original value.

V = 35000(.95)⁸ ≈ $23219.72