The machine

The annual depreciation of the machine is 10%. After 8 years, the machine is worth 697 euros. What was the price of this machine at the time of purchase?

Correct answer:

a1 =  1619.17 Eur

Step-by-step explanation:

q=10%=110100=0.9 a9=697 Eur n=8  a(n)=a1 qn a1=a9/qn=697/0.981619.1709=1619.17 Eur=1.6103 Eur   Verifying Solution:  a2=q a1=0.9 1619.17091457.2539 a3=q a2=0.9 1457.25391311.5285 a4=q a3=0.9 1311.52851180.3756 a5=q a4=0.9 1180.37561062.3381 a6=q a5=0.9 1062.3381956.1043 a7=q a6=0.9 956.1043=6970081860.4938 a8=q a7=0.9 860.4938=69709774.4444 a9=q a8=0.9 774.4444=697

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