Depreciation A company buys a fleet of six vans for
Chapter 8, Problem 8.83(choose chapter or problem)
Depreciation A company buys a fleet of six vans for $120,000. During the next 5 years, the fleet will depreciate at a rate of 30% per year. (That is, at the end of each year, the depreciated value will be 70% of the value at the beginning of the year.) (a) Find the formula for the th term of a geometric sequence that gives the value of the fleet full years after it was purchased. (b) Find the depreciated value of the fleet at the end of 5 full years.
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