Question

For tax purposes, you may have to report the value of your assets, such as cars or refrigerators. The value you report drops with time. "Straight-line depreciation" assumes that the value is a linear function of time. If a $1020 refrigerator depreciates completely in seven years, find a formula for its value as a function of time. (Let x represent the time in years and y be in terms of dollars.)

I thought it'd be y= -1020/7 +1020 but I was told that I was wrong. Please help me figure this question out!

Answer 1

I posted this question yesterday and I was told I was correct but for some reason the online hw website will not take it.

Answer 2

If you entered it the way you typed it above, I noticed you left out the variable for time

it should be y = -1020/7 x + 1020
or try : <b>y = (-1020/7)x + 1020</b>

checking,
for now, x = 0, x = 0 + 1020 = 1020, checks!
for 7 years from now,
x = 7
y = (-1020/7)(7) + 1020 = 0 , checks!

Answer 3

Thank you so much! That worked!