Joey bought a new tractor for use in his landscaping business. He expects that the use of the tractor will generate $ 3500 of revenue in the first year with an increase in revenue of $ 500 per year for subsequent years. If the tractor's useful lifetime is 8 years, how much revenue will Joey receive from the use of the tractor?
A)$ 7500
B)$ 46,000
C)$ 171,000
D)$ 35,000
E)$ 42,000

Question

Quizplus · Accepted Answer

The revenue for each year forms an arithmetic sequence: $3500, $4000, $4500, ..., $7000. The sum of this sequence over 8 years is $42,000.

Joey Bought a New Tractor for Use in His Landscaping