a chef buys a blender for $600. if the value of the blender depreciates by 20% every year, what is the value…

a chef buys a blender for $600. if the value of the blender depreciates by 20% every year, what is the value of the blender after 2 years? remaining amount = ?(1 - )^ remaining amount = i(1 - r)^t enter the number that belongs in the green box.

a chef buys a blender for $600. if the value of the blender depreciates by 20% every year, what is the value of the blender after 2 years? remaining amount = ?(1 - )^ remaining amount = i(1 - r)^t enter the number that belongs in the green box.

Answer

Explanation:

Step1: Identify the initial - value

The initial value $I$ of the blender is the purchase price. Here, $I = 600$.

Step2: Identify the rate of depreciation

The rate of depreciation $r$ is given as 20% or 0.2 in decimal form.

Step3: Identify the time

The time $t$ is 2 years. The formula for depreciation is $Remaining\ Amount=I(1 - r)^t$. In the given formula $Remaining\ Amount=[?](1 - [ ])^{[ ]}$, the value in the green box represents the initial - value $I$.

Answer:

600