The salvage value S (in dollars) of a company yacht after t years is estimated to be given by the formula below. Use the formula to answer the questions. S(t) = 600,000(0.7)^t What is the rate of depreciation (in dollars per year) after 1 year? $ per year (Do not round until the final answer. Then round to the nearest cent as needed.) What is the rate of depreciation (in dollars per year) after 10 years? $ per year (Do not round until the final answer. Then round to the nearest cent as needed.) What is the rate of depreciation (in dollars per year) after 15 years? $ per year (Do not round until the final answer. Then round to the nearest cent as needed.)
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7)^t For t = 1 year: S(1) = 600,000(0.7)^1 = 420,000 For t = 10 years: S(10) = 600,000(0.7)^{10} = 5,764.801 For t = 15 years: S(15) = 600,000(0.7)^{15} = 1,007.374 Now, we need to find the rate of depreciation for each time period. The rate of depreciation is Show more…
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