Question

A business uses​ straight-line depreciation to determine the value y of a piece of machinery over a​ 10-year period. Suppose the original value​ (when t​=0) is equal to ​$34,000 and its value is reduced by ​$3400 each year. Write the linear equation that models the value y of this machinery at the end of year t.

Answer 1

The linear equation that models the value y of this machinery at the end of year t is y = $34,000 - $3,400t

A linear equation is an algebraic equation in the form :

y = mx + b

where y = intercept

m = slope

x and y are variables

Depreciation is used in expensing the cost of the asset

The value of the asset reduces by $3400 every year

The equation is :

y = $34,000 - $3,400t

At the end of one year, y = $34,000 - $3,400(1) = $30,600

At the end of two years, y = $34,000 - $3,400(2) = $27,200

At the end of ten years, y = $34,000 - $3,400(10) = 0

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