Answer to Question #309884 in Algebra for badshah

Question #309884

The value of a delivery van depreciates at the rate of 15% per year. Show that

annual depreciation follows a geometric progression, and use this progression

to determine the value of the van after three years, if it is purchased for $4500?


1
Expert's answer
2022-03-15T13:02:51-0400

After nn-th years the value is equal to 4500(115100)n=45000.85n,4500(1-\frac{15}{100})^n=4500\cdot 0.85^n, and hence annual depreciation follows a geometric progression.

After three years the value is equal to

45000.8532763.534500\cdot 0.85^3\approx 2763.53

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