A delivery truck is purchased new for $54,000. a. Write a linear function of the form y = mt +b to represent the value y of the vehicle t years after purchase. Assume that the vehicle is depreciated by $6750 per year. b. Suppose that the vehicle is depreciated so that it holds 70% of its value from the previous year. Write an exponential function of the form y = V0bt, where V0 is the initial value and t is the number of years after purchase. c. To the nearest dollar, determine the value of the vehicle after 4 yr and after 8 yr using the linear model. d. To the nearest dollar, determine the value of the vehicle after 4 yr and after 8 yr using the exponential model.
A delivery truck is purchased new for $54,000.
a. Write a linear function of the form y = mt +b to represent the value y of the vehicle t years after purchase. Assume that the vehicle is depreciated by $6750 per year.
b. Suppose that the vehicle is depreciated so that it holds 70% of its value from the previous year. Write an exponential function of the form y = V0bt, where V0 is the initial value and t is the number of years after purchase.
c. To the nearest dollar, determine the value of the vehicle after 4 yr and after 8 yr using the linear model.
d. To the nearest dollar, determine the value of the vehicle after 4 yr and after 8 yr using the exponential model.
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