Construct and use reducing-balance depreciation models
A buyer pays $49,561.60 for a caravan. Reducing-balance depreciation at 25% per year gives the value \(V_n\), in dollars, after \(n\) years as the relation below
\[V_0 = \$49{,}561.60, \quad V_{n+1} = R \times V_n, \quad R = 0.75\]
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