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A company buys a fleet of six vans for 20,000. During the next 5 years, the fleet will depreciate at a rate of 30 percent per year. (That is, at the end of each year, the depreciated value will be 70percent the value at the beginning of the year.)

(a) Find the formula for the nth term of a geometric sequence that gives the value of the fleet t full years after it was purchased.

(b) Find the depreciated value of the fleet at the end of 5 full years.


Answered 1 year ago
Answered 1 year ago
Step 1
1 of 5

In order to solve this exercise you have to analyze the first few terms of the described sequence and using the observed principle you can find the wanted formula.

Using this formula will help you find the wanted value.

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