A tractor costs $12,250 and depreciates in value by 6% per year. How much will the tractor be worth after 6 years?
a
$12,214.00
b
$8,450.90
c
$17,376.86
d
$7,943.85
The tractor depreciates by 6% per year for 6 years, so the value of the tractor after 6 years will be $12,250 - ($12,250 * 0.06 * 6) = $7,943.85.
Therefore, the tractor will be worth $7,943.85 after 6 years.
The answer is d.