An office machine is purchased for $7400. Assume that its salvage value, V, in dollars, depreciates, according to a method called double declining balance, by 20% each year and is given by V(t) = 7400(0.80), where t is the time, in years, after purchase. a) Find V(3), and explain its meaning. b) Find V'(3), and explain its meaning. c) When will the salvage value of the office machine be half of the purchase price? a) V(3) = $ (Round to the nearest cent as needed.) The expression V(3) means that after b) V'(3) = $ (Round to the nearest cent as needed.) The expression V'(3) means that after ... year(s), the salvage value year(s), the salvage value c) The salvage value of the office machine will be half of the purchase price after years. (Round to two decimal places as needed.)
An office machine is purchased for $7400. Assume that its salvage value, V, in dollars, depreciates, according to a method called double declining balance, by 20% each year and is given by V(t) = 7400(0.80), where t is the time, in years, after purchase. a) Find V(3), and explain its meaning. b) Find V'(3), and explain its meaning. c) When will the salvage value of the office machine be half of the purchase price? a) V(3) = $ (Round to the nearest cent as needed.) The expression V(3) means that after b) V'(3) = $ (Round to the nearest cent as needed.) The expression V'(3) means that after ... year(s), the salvage value year(s), the salvage value c) The salvage value of the office machine will be half of the purchase price after years. (Round to two decimal places as needed.)
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 68SE: An investment account with an annual interest rateof 7 was opened with an initial deposit of 4,000...
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Transcribed Image Text:An office machine is purchased for $7400. Assume that its salvage value, V, in dollars, depreciates, according to a
method called double declining balance, by 20% each year and is given by V(t) = 7400(0.80), where t is the time,
in years, after purchase.
a) Find V(3), and explain its meaning.
b) Find V'(3), and explain its meaning.
c) When will the salvage value of the office machine be half of the purchase price?
a) V(3) = $
(Round to the nearest cent as needed.)
The expression V(3) means that after
b) V'(3) = $
(Round to the nearest cent as needed.)
The expression V'(3) means that after
...
year(s), the salvage value
year(s), the salvage value
c) The salvage value of the office machine will be half of the purchase price after years.
(Round to two decimal places as needed.)
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