A veterinarian depreciates a $ 10 , 000 X-ray machine. He estimates that the resale value V t in $ after t years is 90 % of its value from the previous year. Therefore, the resale value can be approximated by V t = 10 , 000 0.9 t . a. Find the resale value after 4 yr. b. If the veterinarian wants to sell his practice 8 yr after the X-ray machine was purchased. how much is the machine worth? Round to the nearest $100 .
A veterinarian depreciates a $ 10 , 000 X-ray machine. He estimates that the resale value V t in $ after t years is 90 % of its value from the previous year. Therefore, the resale value can be approximated by V t = 10 , 000 0.9 t . a. Find the resale value after 4 yr. b. If the veterinarian wants to sell his practice 8 yr after the X-ray machine was purchased. how much is the machine worth? Round to the nearest $100 .
Solution Summary: The author explains how to calculate the resale value of an X-ray machine if it is approximated by V(t) and t is the time (in year
A veterinarian depreciates a
$
10
,
000
X-ray machine. He estimates that the resale value
V
t
in $
after t years is
90
%
of its value from the previous year. Therefore, the resale value can be approximated by
V
t
=
10
,
000
0.9
t
.
a. Find the resale value after 4 yr.
b. If the veterinarian wants to sell his practice 8 yr after the X-ray machine was purchased. how much is the machine worth? Round to the nearest
$100
.
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, calculus and related others by exploring similar questions and additional content below.
Compound Interest Formula Explained, Investment, Monthly & Continuously, Word Problems, Algebra; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=P182Abv3fOk;License: Standard YouTube License, CC-BY
Applications of Algebra (Digit, Age, Work, Clock, Mixture and Rate Problems); Author: EngineerProf PH;https://www.youtube.com/watch?v=Y8aJ_wYCS2g;License: Standard YouTube License, CC-BY