Linear models: machine purchased for $75,600, has 7-yr life, end-value of $0

[HB09]

Anyone have any idea where to even start? Im looking for a formula for these. I do not have an example nor a formula for this part of the assignment Not looking for answers looking for someone to point me in the right direction. thank you
The value of a machine depreciates by an equal amount each year of its usefullife. This “constant change” allows us to model this situation using a linear equation. Suppose themachine was purchased for $75,600 and has a useful life of seven years, after which time it has a valueof $0.
(a) Identify the x–variable and the y–variable.
(b) Construct the data table for this problem.
(c) Find the equation of the linear model.
(d) What is the annual depreciation rate?
(e) What is the value of the machine five years after its purchase?
(f) When will the value of the machine be $45,000?Give your final answer in terms of years and months

----------------------------------------------4. The value of a machine depreciates by an equal amount each year of its usefullife. Suppose the machine was purchased for $18,000 and has a useful life of fiveyears, after which time it has a scrap value of $2,000.
(a) Identify the x–variable and the y–variable.
(b) Construct the data table for this problem.
(c) Find the equation of the linear model.
(d) What is the annual depreciation rate?
(e) What is the value of the machine two and one–half years after its purchase?
(f) When will the value of the machine be $6,000?Give your final answer in terms of years and months.

 

[JeffM]

Anyone have any idea where to even start? Im looking for a formula for these. I do not have an example nor a formula for this part of the assignment Not looking for answers looking for someone to point me in the right direction. thank you
The value of a machine depreciates by an equal amount each year of its usefullife. This “constant change” allows us to model this situation using a linear equation. Suppose themachine was purchased for $75,600 and has a useful life of seven years, after which time it has a valueof $0.
(a) Identify the x–variable and the y–variable.
(b) Construct the data table for this problem.
(c) Find the equation of the linear model.
(d) What is the annual depreciation rate?
(e) What is the value of the machine five years after its purchase?
(f) When will the value of the machine be $45,000?Give your final answer in terms of years and months

----------------------------------------------4. The value of a machine depreciates by an equal amount each year of its usefullife. Suppose the machine was purchased for $18,000 and has a useful life of fiveyears, after which time it has a scrap value of $2,000.
(a) Identify the x–variable and the y–variable.
(b) Construct the data table for this problem.
(c) Find the equation of the linear model.
(d) What is the annual depreciation rate?
(e) What is the value of the machine two and one–half years after its purchase?
(f) When will the value of the machine be $6,000?Give your final answer in terms of years and months.

It is conventional to use x for the independent variable and y for the dependent variable. You can think of the independent variable as controlling the dependent variable. So here x is the number of years, and y is the book value of the machine.

So when t = 0 y is 75600. When t = 8 y is zero. Each year y is lower by how much if we are decreasing its value by a constant amount?