Salvage Value. A restaurant purchased a 72-in. range with six burners for $6982. The
Chapter 5, Problem 74(choose chapter or problem)
Salvage Value. A restaurant purchased a 72-in. range with six burners for $6982. The value of the range each year is 85% of the value of the preceding year. After t years, its value, in dollars, is given by the exponential function V1t2 = 698210.852t . a) Graph the function. b) Find the value of the range after 0, 1, 2, 5, and 8 years. c) The restaurant decides to replace the range when its value has declined to $1000. After how long will the range be replaced?
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