A farmer depreciates a $120,000 tractor. He estimates that the resale value V t in $1000 of the tractor t years after purchase is 80 % of its value from the previous year. Therefore, the resale value can be approximated by V t = 120 0.8 t . a. Find the resale value 5 yr after purchase. Round to the nearest $1000 . b. The farmer estimates that the cost to run the tractor is $ 18 / hr in labor, $36 / hr in fuel, and $22 / hr in overhead colts (for maintenance and repair). Estimate the farmer's cost to run the tractor for the first year if he runs the tractor for a total of 800 hr. Include hourly costs and depreciation.
A farmer depreciates a $120,000 tractor. He estimates that the resale value V t in $1000 of the tractor t years after purchase is 80 % of its value from the previous year. Therefore, the resale value can be approximated by V t = 120 0.8 t . a. Find the resale value 5 yr after purchase. Round to the nearest $1000 . b. The farmer estimates that the cost to run the tractor is $ 18 / hr in labor, $36 / hr in fuel, and $22 / hr in overhead colts (for maintenance and repair). Estimate the farmer's cost to run the tractor for the first year if he runs the tractor for a total of 800 hr. Include hourly costs and depreciation.
A farmer depreciates a
$120,000
tractor. He estimates that the resale value
V
t
in $1000
of the tractor t years after purchase is
80
%
of its value from the previous year. Therefore, the resale value can be approximated by
V
t
=
120
0.8
t
.
a. Find the resale value 5 yr after purchase. Round to the nearest
$1000
.
b. The farmer estimates that the cost to run the tractor is
$
18
/
hr
in labor,
$36
/
hr
in fuel, and
$22
/
hr
in overhead colts (for maintenance and repair). Estimate the farmer's cost to run the tractor for the first year if he runs the tractor for a total of 800 hr. Include hourly costs and depreciation.
Find the amount of time required for a city's population to halve when its decrease factor is 6% per year. Use S = Pert. (Round your answer to one decimal place.)
Using and Understanding Mathematics: A Quantitative Reasoning Approach (6th Edition)
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