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Model flat-rate depreciation with a recurrence relation

Question 1 of 8

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An office computer depreciates at a flat rate of 24% p.a. Ethan buys one for $2,918.25

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

V_0 = \$2{,}918.25

V_{n+1} = V_n - \$700.38

3 marks

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

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