e of $14,000 roughly 20 years after it was purchased. If we assume that the value of the tractor depreciates linearly from when it was first purchased.. 1) What is the annual rate of depreciation for the tractor? In

e of $14,000 roughly 20 years after it was purchased. If we assume that the value of the tractor depreciates linearly from when it was first purchased.. 1) What is the annual rate of depreciation for the tractor? In

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Question

A $75,000 tractor has a resale value of $14,000 roughly 20 years after it was purchased. If we assume that the value of the tractor depreciates linearly from when it was first purchased..

1) What is the annual rate of depreciation for the tractor? Include units with the answer.

2) Find a formula for the resale value (V) in years (t) after purchase if V is a linear function of t.

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