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Question

# A company buys a fleet of six vans for $130,000. During the next 5 years, the fleet will depreciate at a rate of 30% per year. (That is, at the end of each year, the depreciated value will be 70% of the value at the beginning of the year.) (a) Find the formula for the$n t h\$ 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

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The goal of this task is to

a) find the formula for the $n$th term of a geometric sequence that gives the value of the fleet $t$ full years after it was purchased

b) find the depresciated value of the fleet at the end of $5$ full years

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