Suppose the cost of a business property is $2,980,000 and a company depreciates it with the straight-line method. If V is the value of the property after x years and the line representing the value as a function of years passes through the points (30,970000) and (40,300000), write the equation that gives the annual value of the property.
Suppose the cost of a business property is $2,980,000 and a company depreciates it with the straight-line method. If V is the value of the property after x years and the line representing the value as a function of years passes through the points (30,970000) and (40,300000), write the equation that gives the annual value of the property.
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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Transcribed Image Text:Suppose the cost of a business property is $2,980,000 and a company depreciates it with the straight-line method. If V
is the value of the property after x years and the line representing the value as a function of years passes through the
points (30,970000) and (40,300000), write the equation that gives the annual value of the property.
The equation that gives the annual value of the property is
(Type an equation. Simplify your answer.)
Expert Solution
Step 1
Given that the line representing the value as a function of years passes through the points
That means if the year is changed from 30 to 40 then the function value changed from 970,000 to 300,000
which means in 10 years, the property depreciated by 970,000 - 300,000 = 670,000
In straight line method, depreciation in all years is same which means
Depreciation in each year =
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