Construct and use reducing-balance depreciation models
A secondhand motorbike costs $7,320 and loses 10% of its value each year under the reducing-balance method. Its value \(V_n\), in dollars, after \(n\) years follows the relation below
\[V_0 = \$7{,}320, \quad V_{n+1} = R \times V_n, \quad R = 0.9\]
Use the ideal model at full precision: do not round the value after each yearly update. Round a requested reported amount only once, to the nearest cent where needed