purchases Hew Pobotić welding equipment for $28.3 million. The value of the equipment will be depreciated at a rate of 14% per year. (a) Write an equation for a function V in millions of dollars that gives the value of the machinery after t years. V(t) = 28.3(.86)' (b) How long will it take for the equipment to be reduced to half its original value? (Round your answer to one decimal place.) 3.9 X years (c) Compute V'(4). (Round your answer to two decimal places.) million dollars per year Interpret your answer. After 4 years, the value of the equipment is decreasing at a rate of million dollars per year. (d) When will the value of the equipment be decreasing at a rate of $1 million per year? (Round your answer to one decimal place.) years

Linear Algebra: A Modern Introduction
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ISBN:9781285463247
Author:David Poole
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Chapter6: Vector Spaces
Section6.7: Applications
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An automotive company purchases new robotic welding equipment for $28.3 million. The value of the equipment will be depreciated at a rate of 14% per year-
(a) Write an equation for a function V in millions of dollars that gives the value of the machinery after t years.
V(t) = 28.3(.86)'
(b) How long will it take for the equipment to be reduced to half its original value? (Round your answer to one decimal place.)
3.9
X years
(c) Compute V'(4). (Round your answer to two decimal places.)
million dollars per year
Interpret your answer.
After 4 years, the value of the equipment is decreasing at a rate of
million dollars per year.
(d) When will the value of the equipment be decreasing at a rate of $1 million per year? (Round your answer to one decimal place.)
years
Transcribed Image Text:An automotive company purchases new robotic welding equipment for $28.3 million. The value of the equipment will be depreciated at a rate of 14% per year- (a) Write an equation for a function V in millions of dollars that gives the value of the machinery after t years. V(t) = 28.3(.86)' (b) How long will it take for the equipment to be reduced to half its original value? (Round your answer to one decimal place.) 3.9 X years (c) Compute V'(4). (Round your answer to two decimal places.) million dollars per year Interpret your answer. After 4 years, the value of the equipment is decreasing at a rate of million dollars per year. (d) When will the value of the equipment be decreasing at a rate of $1 million per year? (Round your answer to one decimal place.) years
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