Question 1179385: A new car costs $30,000. At the end of each year, the car is worth 85% of
its start-of-year value.
Write a recursive rule that describes the value of
the car. What is the value of the car at the end of 5 years?
Answer by ikleyn(52786)   (Show Source):
You can put this solution on YOUR website! .
In such problems, two basic models are applicable: linear and exponential.
These models are DIFFERENT, so an accurate problem's formulation should point which model to use.
I will use exponential model.
Then the recursive rule is
V(n+1) = 0.85*V(n), n = 1, 2, 3, . . . , year after year.
V(after 5 years) =  . Use your calculator.
Solved.
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To see many other similar (and different) solved problems, look into the lesson
- Problems on appreciated/depreciated values
in this site.
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