a musician buys a guitar for $450. if the value of the guitar depreciates by 30% every year, what is the…

a musician buys a guitar for $450. if the value of the guitar depreciates by 30% every year, what is the value of the guitar after 6 years? remaining amount = ?(1 - )^ remaining amount = i(1 - r)^t enter the number that belongs in the green box.

a musician buys a guitar for $450. if the value of the guitar depreciates by 30% every year, what is the value of the guitar after 6 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 formula

The formula for depreciation is $Remaining\ Amount = I(1 - r)^t$, where $I$ is the initial value, $r$ is the rate of depreciation, and $t$ is the time in years.

Step2: Determine the value for the green - box

In the formula $Remaining\ Amount = I(1 - r)^t$, the green - box represents the initial value $I$. The musician buys the guitar for $450$, so the initial value of the guitar is $450$.

Answer:

450