A small business buys a computer for $4600. After 4 years the value of the computer is expected to be $200. For accounting purposes the business uses linear depreciation to assess the value of the computer at a given time. This means that if V is the value of the computer at time t, then a linear equation is used to relate V and t.
(a) Find a linear equation that relates V and t.
Find the depreciated value of the computer 3 years from the date of purchase.
The monthly cost of driving a car depends on the number of miles driven. Lynn found that in May her driving cost was $310 for 500 mi and in June her cost was $410 for 700 mi. Assume that there is a linear relationship between the monthly cost C of driving a car and the distance driven d.
(a) Find a linear equation that relates C and d.
(b) Use part (a) to predict the cost of driving 1700 mi per month.
The manager of a furniture factory finds that it costs $2200 to manufacture 100 chairs in one day and $4600 to produce 300 chairs in one day.
(a) Assuming that the relationship between cost C and the number of chairs produced x is linear, find an equation that expresses this relationship.
(b) What is the slope of the line in part (a), and what does it represent?
(c) What is the y-intercept of this line, and what does it represent?