A Piece of Machinery Valued at $38,000 Depreciates at a Rate

question 46

Multiple Choice

A piece of machinery valued at $38,000 depreciates at a rate of 7% yearly. How long will it take until it has a value of $19,000? Please round the answer to the nearest tenth.

• A) 11.9 years
• B) 14.9 years
• C) 12.9 years
• D) 9.9 years
• E) 8.9 years

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Definitions:

Internal Locus

A psychological term referring to individuals who believe that they have control over the outcomes of their actions and the events in their lives.

Reciprocal Determinism

A concept in psychology where a person's behavior both influences and is influenced by personal factors and the social environment.

Reciprocal Determinism

The theory that a person's behavior both influences and is influenced by personal factors and the social environment.

Academic Inferiority

A feeling of lower standing or inadequacy in an academic context, often based on comparison with peers or personal academic performance expectations.