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Model flat-rate depreciation with a recurrence relation

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Jack pays $2,592.40 for a home entertainment system. Its value depreciates at a flat rate of 15% p.a.

This is modelled with a recurrence relation below, where $V_n$ is the value after $n$ years:

V_0 = \$2{,}592.40

V_{n+1} = V_n - \$388.86

3 marks

Complete the table below, showing the system value at the end of each year

System value after 1 year ($) System value after 2 years ($) System value after 3 years ($)