A tractor cost $15,450 and depreciate in value by 14% per year. How much will the tractor be worth after three years?
After the first year, the tractor's value decreases by 14%, which is 15,450 * 0.14 = $<<15450*0.14=2163>>2163.
So, after the first year, the tractor's worth is 15,450 - 2,163 = $<<15450-2163=13287>>13,287.
After the second year, the tractor will depreciate by 14% again, which is 13,287 * 0.14 = $<<13287*0.14=1854.18>>1854.18.
So, after the second year, the tractor's worth is 13,287 - 1,854.18 = $<<13287-1854.18=11432.82>>11,432.82.
After the third year, the tractor will depreciate by 14% again, which is 11,432.82 * 0.14 = $<<11432.82*0.14=1600.7948>>1,600.7948.
So, after the third year, the tractor's worth will be 11,432.82 - 1,600.7948 = $<<11432.82-1600.7948=9844.0252>>9,844.0252, therefore the tractor will be worth $9,844.03 after three years. Answer: \boxed{9844.03}.
To find out how much the tractor will be worth after three years, we need to calculate the depreciation for each year and then subtract it from the original cost of $15,450.
Step 1: Calculate the depreciation for each year.
14% of $15,450 is (14/100) x $15,450 = $2,163.
Step 2: Calculate the depreciation for three years.
For the first year, the tractor depreciates by $2,163.
For the second year, the tractor depreciates by $2,163 again.
For the third year, the tractor also depreciates by $2,163.
Therefore, the total depreciation after three years is 3 x $2,163 = $6,489.
Step 3: Subtract the total depreciation from the original cost of the tractor.
$15,450 - $6,489 = $8,961.
The tractor will be worth $8,961 after three years.
To calculate the value of the tractor after three years, we need to apply the depreciation rate of 14% per year for three years.
First, let's calculate the depreciation for each year:
Year 1: Depreciation = 14% of $15,450 = 0.14 * $15,450 = $2,163
Year 2: Depreciation = 14% of ($15,450 - $2,163) = 0.14 * ($15,450 - $2,163) = $1,974
Year 3: Depreciation = 14% of ($15,450 - $2,163 - $1,974) = 0.14 * ($15,450 - $2,163 - $1,974) = $1,687
Now, let's calculate the value after three years:
Value after three years = $15,450 - $2,163 - $1,974 - $1,687
Value after three years = $9,626
Therefore, the tractor will be worth $9,626 after three years.