Let the value of the vehicle be described by the equation
V = a + bx
where x = number of years since purchase
a,b are constants.
When x = 0, V = $7500. Therefore
a + b*0 = 7500
a = 7500
When x = 7, V = $500. Therefore
7500 + 7b = 500
7b = 500 -7500 = -7000
b = -7000/7 = -1000
The equation is
V = 7500 - 1000x
The slope of this equation is the depreciation rate, and it is -$1000 per year.
Answer: $1000 depreciation per year.
Answer:
Number of hours= 48 hours
Step-by-step explanation:
Giving the following information:
Hourly rate= $7.25
Total earned= $348
<u>To calculate the number of hours worked, we need to use the following formula:</u>
Total earned= hourly rate*number of hours
number of hours= total earned / hourly rate
number of hours= 348 / 7.25
number of hours= 48 hours
I’m pretty sure they are multiplied, if I understand your wording
7.61 is the answer
Hope it helps!