Question

The value of a wheelchair conversion van that originally cost $45,270 depreciates so that each year it is worth (7)/(8) of its value for the previous year

Answer 1

To find the value of the wheelchair conversion van each year, multiply the previous year's value by (7/8).

Step-by-step explanation:

The subject of this question is mathematics, specifically focused on the concept of depreciation.

To find the value of the wheelchair conversion van each year, we can use the given information that the van is worth (7)/(8) of its value for the previous year. Let's start with the original cost of $45,270:

1. Year 1: (7/8) * $45,270 = $39,428.75
2. Year 2: (7/8) * $39,428.75 = $34,489.84
3. Year 3: (7/8) * $34,489.84 = $30,161.87
4. And so on...

Each year, we multiply the previous year's value by (7/8) to find the next year's value.