Amy owns a graphic design store. She purchases a new printer to use in her store. The printer depreciates by a fixed rate per year. The function V = 2,400(0.86)^t
can be used to model the value of the printer in dollars after t years.
Explain what the parameter 2,400 represents in the equation of the function. Write your answer in the space provided.
At what rate (in percent) does the value of the printer increase or decrease each year? Explain your answer. Write your answer in the space provided.
What is the value of the printer after 5 years rounded to the nearest dollar? Write your answer in the space provided.