Question
A company that makes wildlife videos purchases camera equipment for $32,400. The equipment depreciates in value at a constant rate for 12 years, after which it is considered to have no monetary value. How much is the camera equipment worth 4 years after it is purchased?
- $10,800
- $16,200
- $21,600
- $29,700
The correct answer is: $21,600
HINT – Use A.P method to solve this question
SOLUTION - Initial price of camera = $ 32,400
So, let a = 32400
Now, since its value depreciates every year by a constant
Let common difference, d = k
After 12 years, the value of camera = $ 0
i.e. a13 = 0
a13 = a + 12d
0 = 32400 + 12k
- 32400 = 12k
- 2700 = k
Now, to find its value after four years we need to find a5
a5 = a + (n – 1)d
= 32400 + 4( - 2700)
= 32400 – 10800
= 21600
So, after 4 years camera equipment is worth $ 21,600
Hence, option C is correct
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