Question
A charter fishing company buys a new boat for $224,000 and assumes that it will have a trade-in value of $115,200 after 16 years. Find a linear model for the depreciated value V of the boat t years after it was purchased.
Answers
Reiny
change in value = 224000-115200 = 108800
change in time = 16 yrs
rate of change = 108800/16 = 6800
value = -6800t + 224000 , where t is the number of years
change in time = 16 yrs
rate of change = 108800/16 = 6800
value = -6800t + 224000 , where t is the number of years