A company buys a machine for $575,000 that depreciates at a rate of 30% per year. Find a formula for the value of the machine after n years. V(n)

Step-by-step explanation:

The value of the machine after n years is given by an exponential function in the following format:

In which V(0) is the initial value and r is the yearly rate of depreciation, as a decimal.

A company buys a machine for $575,000 that depreciates at a rate of 30% per year.

This means, respectively, that: . So