SOLUTION: A company buy a $450,000 piece of equiptment in 2005. It depreciates $33,000 a year. What is the equation that relates years and value? For 10 years?

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Question 345521: A company buy a $450,000 piece of equiptment in 2005. It depreciates $33,000 a year. What is the equation that relates years and value? For 10 years?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
At time, t=0 (2005), the equipment is worth $450,000.
It loses $33,000 of value every year after 2005.
V%28t%29=450000-33000t where t is the number of years since 2005.
In 10 years,
V%2810%29=450000-33000%2810%29
V%2810%29=450000-330000
V%2810%29=120000
The equipment is worth $120,000 in 10 years.