Question

Sam has purchased a $30,000 car for his business. The car depreciates 30% every year. What is the explicit formula for this sequence? Note: The car is 0 years old when purchased so the first year is the second entry in the sequence.

Answer 1

if your just figuring out how much the car depreciated just by driving off the lot new...1st year.
$30,000×.30=$9,000

$30,000- $9,000=$21,000.

just take the brand new value of the car multiplied by the .30% of the 1st depreciation...take that answer ($9,000) and subtract it from your orginal value of $31,000.

which gives you $21,000

Answer 2

Answer:

if your just figuring out how much the car depreciated just by driving off the lot new...1st year.

$30,000×.30=$9,000

$30,000- $9,000=$21,000.

just take the brand new value of the car multiplied by the .30% of the 1st depreciation...take that answer ($9,000) and subtract it from your original value of $31,000.

which gives you $21,000