Question

A new truck costs $32,000 if the truck is worth 24,500 after three years write an explicit formula for the value of the car after “n” years

Answer 1

Explanation:

depreciation for three years = 32000 - 24500 = $ 7500

depreciation per year = 7500/3 = $ 2500

depreciation % = (2500/32000)*100 = 7.81%

Value of truck after n years = 32000 * (7.81%)*n