Activity 1.4 Stopping Short 3. The value of almost everything you own (assets),

Question

Activity 1.4 Stopping Short 3. The value of almost everything you own (assets), such as a car, computer, or house, depreciates (goes down) over time. When an asset's value decreases by a fixed amount each year, the depre- ciation is called straight-line depreciation. Suppose your truck has an initial value of $23,650 and depreciates $2000 per year a. State a question that you might want answered in this situation. b. What two variables are involved in this problem? c. Which variable can best be designated as the dependent variable? As the independent variable? d. Complete the following table. Independent Variable Dependent Variable e. State in words the relationship between the independent and dependent variables t. Use appropriate letters to represent the variables involved, and translate the written statement in part e as an equation. &. If you plan to keep the truck 7 years, determine the value of the truck at the end of this period. Explain the process you used. . What assumption was made regarding the rate of depreciation of the truck? Does this seem reasonable? 4a. Sketch the graph of a function that is everywhere decreasing b. What does the graph of a constant function look like?

Explanation / Answer

As per Chegg rules, you can get answers to just 1 question in one post. and at max 4 subparts in the questions.

I will answer all of them only if you will upvote the answer.

3.

a)

Equation will between no. of years after trucks bought (t) and value of the truck in a particular year (V)

V = 23650 - 2000*t

(The equation is simple to find out, every year the value decreases by 2000, which means if you start with 23,650, after one year it will decrease by 2000, and next 2000 more.

b)

Variable1 : no. of years after trucks bought (t) and

Variable2 : value of the truck in a particular year (V)

c)

Variable1 : no. of years after trucks bought (t) - independent variable (Because it is not under control)

Variable2 : value of the truck in a particular year (V) - dependent variable (because it depends on the year)

d)

e)

The relationship is : With every 1 year passed, the value of the truck is decreased by $2000

f)

Equation will between no. of years after trucks bought (t) and value of the truck in a particular year (V)

V = 23650 - 2000*t

(The equation is simple to find out, every year the value decreases by 2000, which means if you start with 23,650, after one year it will decrease by 2000, and next 2000 more.

g)

V = 23650 - 2000*t

t = 7 years

V = 23650-2000*7 = 23650-14000 = $9,650

Value of the truck after 7 years is $9,650

h)

We assumed that value of the truck is decreased by 2000 every year.

Time taken to value become 0 = 23650/2000 ~12 years

It sounds reasonable as that is the average life span of a truck before it becomes obsolete.

Please don't forget to upvote the answer.

t V 0 23650 1 21650 2 19650 3 17650 4 15650 5 13650 6 11650 7 9650 8 7650 9 5650 10 3650

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