The local parts shop buys a machine that costs $500,000. Its value depreciates exponentially each year by 10%.
What is the machine’s value after 5 years? Round your answer to the nearest integer.
After 5 years, the machine's value can be calculated using the formula for exponential depreciation:
Value after 5 years = $500,000 * (1 - 0.10)^5
Value after 5 years = $500,000 * (0.9)^5
Value after 5 years ≈ $291,549
Therefore, the machine's value after 5 years is approximately $291,549.