An Electric Forklift Sells for $122,000 When New

question 18

Multiple Choice

An electric forklift sells for $122,000 when new. Each year after that, it decreases $16,000 in value. Find an arithmetic sequence that gives the value of the forklift at the end of each of the first 5 years after it is purchased. Construct a line graph for this sequence.

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Definitions:

Written Contract

A written contract is an agreement between parties that is recorded in a document form, providing clear terms and conditions that are legally enforceable.

First-Grade Steel

First-grade steel is a classification of steel indicating premium quality, meeting the highest standards of strength, durability, and purity.

Bonafide Purchase

The acquisition of goods or property in good faith without knowledge of any defects or claims against it.

Forged Cheque

refers to a check that has been illegally altered or signed without the account holder’s authorization, often with fraudulent intent.