Question

b) The resale value of a piece of industrial equipment has been found to behave according to the function V=700,000e-0.02t.
i) What was the original value of the piece of equipment

Answer 1

The original value of the piece of equipment is 700000

How to determine the original value?

The resale value is given as:

V=700,000e^(-0.02t)

The original value is when t = 0.

So, we have:

V=700,000e^(-0.02 *0)

Evaluate the product

V=700,000e^0

This gives

V=700,000 * 1

Evaluate

V=700000

Hence, the original value of the piece of equipment is 700000

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