a musician buys a piano for $5,000. if the value of the piano depreciates by 20% every year, what is the…

a musician buys a piano for $5,000. if the value of the piano depreciates by 20% every year, what is the value of the piano after 5 years? remaining amount = 5,000(1 - 0.20)^5 remaining amount = $? round your answer to the nearest whole number.

a musician buys a piano for $5,000. if the value of the piano depreciates by 20% every year, what is the value of the piano after 5 years? remaining amount = 5,000(1 - 0.20)^5 remaining amount = $? round your answer to the nearest whole number.

Answer

Explanation:

Step1: Simplify the expression inside the parentheses

$1 - 0.20=0.8$

Step2: Calculate the power

$0.8^5 = 0.8\times0.8\times0.8\times0.8\times0.8= 0.32768$

Step3: Multiply by the initial value

$5000\times0.32768 = 1638.4$

Step4: Round to the nearest whole number

Rounding $1638.4$ gives $1638$

Answer:

$1638$