The value of a wheelchair conversion van that originally cost $49,810 depreciates so that each year it is worth ⅞  of its value for the previous year. Find a model for V(t), the value of the van after t years. Determine the value of the van 4 years after it was purchased.

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Limits

When it comes to calculus, limits are considered to be a very important topic of discussion. The main importance of limit lies in expressing the value of a function as it gets closer to a certain value. Also, limits can help you to understand other topics, such as continuity and differentiability better. In a broader sense, every calculus notion is a limit. Other branches of calculus have also been derived from limits.