A motorcycle purchased for 12,500 today will be valued 7% less each year. How much could you expect to receive for the motorcycl
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Answer:
$1,109.62
Step-by-step explanation:
Let's first compute the <em>future value FV.</em>
In order to see the rule of formation, let's see the value (in $) for the first few years
<u>End of year 0</u>
1,000
<u>End of year 1(capital + interest + new deposit)</u>
1,000*(1.09)+10
<u>End of year 2 (capital + interest + new deposit)</u>
(1,000*(1.09)+10)*1.09 +10 =
<u>End of year 3 (capital + interest + new deposit)</u>
and we can see that at the end of year 50, the future value is
The sum
is the <em>sum of a geometric sequence </em>with common ratio 1.09 and is equal to
and the future value is then
The <em>present value PV</em> is
rounded to the nearest hundredth.
Using it's concept, it is found that the range of the function is given by:
all real numbers greater than 0.
<h3>What is the range of a function?</h3>It is the set that contains all possible output values for the function.
In this problem, the function is:
For <u>exponential functions without vertical shifts</u>, as is the case in this problem, the range is given by:
all real numbers greater than 0.
More can be learned about the range of a function at brainly.com/question/10891721
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