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Answer:
.
Step-by-step explanation:
Note: In the given function it should be (n-1) instead of (n=1).
Consider the given function is
It is the explicit form of an A.P.
For ,
For ,
Common difference is
The recursive formula of an A.P. is
Substitute in the above formula.
Therefore, required recursive formula is .
Answer:
Future Value = $ 12528.15
Step-by-step explanation:
The depreciation is applied to the car annually. The value of the car after depreciation in "n" no. of years can be given by the following formula:
where,
Future Value = ?
Present Value = $ 24000
Depreciation Rate = 15% = 0.15
n = no. of years = 4
Therefore,
<u>Future Value = $ 12528.15</u>