Asofa depreciates at 20% of its original value each year. if the sofa was $349 at its time of purchase, what is the value of the sofa after 4 years? round your answer to the nearest cent.

$142.95

Step-by-step explanation:

Given Original value of the sofa = $349

Rate of depreciation each year = 20%

Number of years = 4

To find the value of the sofa after 4 years use depreciation formula:

If the constant decrease in population be R% per annum. Then the population after n years is  

                           = 142.9504

                           = 142.95 (Nearest cent)

Hence, the value of sofa after 4 years is $142.95.