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I need help figuring out how to set this word problem up and to solve it:

A delivery truck is purchased new for \$54,000.

a. Write a linear function of the form y = mt + b to represent the value y of the vehicle t years after purchase. Assume that the vehicle is depreciated by \$ 6750 per year.

b. Suppose that the vehicle is depreciated so that it holds 70% of its value form the previous year. Write an exponential function of the form y = Vobt, where V0 is the initial value and t is the number of years after purchase.

c. To the nearest dollar, determine the value of the vehicle after 4 yr and after 8 yr using the linear model.

d. To the nearest dollar, determine the value of the vehicle after 4 yr and after 8 yr using the exponential model

I got :

a) -6750t+54000=y

b) y=54000(.70)t

c) 27,000 for 4 years, and \$0 for 8 years

d) \$12,965 for 4 years , and \$3,113 for 8 years

I would appriciate any help. Are my answers correct? Am I doing the work right?

Jul 30, 2018