A boat was purchased for $45,000. Assuming the boat depreciates at a rate of $4700 per year (straight-line depreciation) for the first 8 years, write the value v of the boat as a function of the time t (measured in years) for 0 ¡Ü t ¡Ü 8.
v(t) = _______ , 0 ¡Ü t ¡Ü 8
To find the value v of the boat as a function of time t, you can use the straight-line depreciation formula. The formula for straight-line depreciation is:
v(t) = initial value - (depreciation rate * t)
In this case, the initial value of the boat is $45,000, and the depreciation rate is $4,700 per year. Therefore, the function v(t) can be expressed as:
v(t) = 45000 - (4700 * t)
Now, for the given range of 0 ≤ t ≤ 8, you can plug in values of t into the function to find the corresponding values of v(t).