A corporate jet originally cost $17,550,000. If its value depreciates by 5 percent per year, what will its value be after 10 years?

It's value after 10 years will be $10,507,833.3

Step-by-step explanation:

The equation for the value of the jet after t years is:

In which is the initial cost and r is the rate it decreases, as a decimal.

A corporate jet originally cost $17,550,000.

This means that

If its value depreciates by 5 percent per year, what will its value be after 10 years?

This is C(10) when r = 0.05. So

It's value after 10 years will be $10,507,833.3