Try the fastest way to create flashcards
Question

# 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.

Solution

Verified
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.

## Recommended textbook solutions

#### Precalculus

2nd EditionISBN: 9780076602186Carter, Cuevas, Day, Malloy
8,886 solutions

#### Nelson Functions 11

1st EditionISBN: 9780176332037Chris Kirkpatrick, Marian Small
1,275 solutions

#### Precalculus with Limits

3rd EditionISBN: 9781133962885 (2 more)Larson
11,142 solutions

#### Precalculus with Limits

5th EditionISBN: 9781285530871Bruce H. Edwards, Robert P. Hostetler, Ron Larson
9,264 solutions