daniel's print shop purchased a new printer for $35'000.each year it depreciates (loses value ) at a rate 5%.what will its approximate value be at the end of the fourth year?

1)$33,250.00
2)$30,008.13
3)$28,507.72
4)$27,082.33

I'll be glad to check your answer.

To find the approximate value of the printer at the end of the fourth year, we need to calculate its depreciation each year and subtract it from the initial value.

The printer depreciates by 5% each year. This means that at the end of each year, its value decreases by 5% of its previous value.

Year 1:

Initial value = $35,000
Depreciation = 5% of $35,000 = 0.05 * $35,000 = $1,750
Value at the end of year 1 = $35,000 - $1,750 = $33,250

Year 2:

Previous value = $33,250
Depreciation = 5% of $33,250 = 0.05 * $33,250 = $1,662.50
Value at the end of year 2 = $33,250 - $1,662.50 = $31,587.50

Year 3:

Previous value = $31,587.50
Depreciation = 5% of $31,587.50 = 0.05 * $31,587.50 = $1,579.38
Value at the end of year 3 = $31,587.50 - $1,579.38 = $30,008.12

Year 4:

Previous value = $30,008.12
Depreciation = 5% of $30,008.12 = 0.05 * $30,008.12 = $1,500.41
Value at the end of year 4 = $30,008.12 - $1,500.41 = $28,507.71

Based on the calculations, the approximate value of the printer at the end of the fourth year is $28,507.71.

Therefore, the correct answer is option 3) $28,507.72.