Answer:
y=-107 x+1,600, where y is the value of the refrigerator in x years, and x is the number of years.
Explanation:
Straight line depreciation is a method of asset valuation where the fixed asset is assumed to undergo constant depreciation per unit time. This means that the change in value during a given period is constant, where if you plot a value of asset value on the vertical axis against time, x in years you get a linear relationship thus the name straight-line depreciation.
The depreciation of the refrigerator in our case can be expressed as;
{(I-F)/x}=k
where;
I=initial value of refrigerator
F=final value of refrigerator
x=time interval
k=constant of proportionality
{(Initial value-final value)/time interval}=K
In our case;
I=1,600
F=0
x=15 years
replacing;
{(1,600-0)/15}=k
k=1,600/15=107
Express the equation where;
Initial value=1,600
value after x years=y
k=107
time=x
replacing;
(1,600-y)/x=107
1,600-y=107 x
y=-107 x+1,600
The formula is;
y=-107 x+1,600, where y is the value of the refrigerator in x years, and x is the number of years.
