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Math Help - Stuck on this question. Successive Discounts and Depreciation

  1. #1
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    Stuck on this question. Successive Discounts and Depreciation

    Im stuck on this question because i keep getting the wrong answer.. Please give me the answer with full working out.

    Craigh bought a computer system 3 years ago for $9800. It is now valued $4134. Using the reducing balance method find the annual rate of depreciation.

    Here is my working out:
    4134 = 9800(1-X)^3
    -9800 - 9800

    -5666 = (1-X)
    ^3

    Cube root each side

    -17.83 = 1-x

    -18.83 = -x

    x = 18.83

    Please tell me the errors
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  2. #2
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    Re: Stuck on this question. Successive Discounts and Depreciation

    Quote Originally Posted by kevinsta View Post
    Im stuck on this question because i keep getting the wrong answer.. Please give me the answer with full working out.

    Craigh bought a computer system 3 years ago for $9800. It is now valued $4134. Using the reducing balance method find the annual rate of depreciation.

    Here is my working out:
    4134 = 9800(1-X)^3
    -9800 - 9800

    -5666 = (1-X)
    ^3

    Cube root each side

    -17.83 = 1-x

    -18.83 = -x

    x = 18.83

    Please tell me the errors
    It seems you are attempting to solve 4134 = 9800(1 - x)^3
    First, divide both sides by 9800
    (4134/9800) = (1 - x)^3 = 0.4218
    Take the cubic root for both sides
    0.75 = 1 - x
    find x
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