. If an item has a new cost of C and an annual depreciation rate of r (as a decimal), its value, V, after years is given by V=C(1-r). Monica bought a microwave oven 4 years ago. It has depreciated 13% annually, and currently has a value of $246.32. What did she pay for it new?
. If an item has a new cost of C and an annual depreciation rate of r (as a decimal), its value, V, after years is given by V=C(1-r). Monica bought a microwave oven 4 years ago. It has depreciated 13% annually, and currently has a value of $246.32. What did she pay for it new?
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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![If an item has a new cost of \( C \) and an annual depreciation rate of \( r \) (as a decimal), its value, \( V \), after \( t \) years is given by
\[ V = C(1-r)^t \]
Monica bought a microwave oven 4 years ago. It has depreciated 13% annually and currently has a value of $246.32. What did she pay for it new?](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F9affadff-1dbc-4796-87cc-cd8c2c6f7c45%2F46c7271c-47f4-4cb3-9acd-f96d5cbe90b3%2Fumr682_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If an item has a new cost of \( C \) and an annual depreciation rate of \( r \) (as a decimal), its value, \( V \), after \( t \) years is given by
\[ V = C(1-r)^t \]
Monica bought a microwave oven 4 years ago. It has depreciated 13% annually and currently has a value of $246.32. What did she pay for it new?
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