A company owns office cars worth a total $587,000.The cars are depreciated by 12% of a year .For 10 year what is the expected value of the cars at the end of 10 years ?
y= 587,000(0.88)^x
so.. y= 587,000(0.88)^10
y=587000 x 0.278500976
y=163480.0729