Ask Question
24 April, 03:19

A new car is purchased for 23400 dollars. The value of the car depreciates at 11.5% per year. To the nearest year, how long will it be until the value of the car is 12700 dollars?

+2
Answers (1)
  1. 24 April, 03:41
    0
    Answer: 5 years

    Step-by-step explanation:

    Using same formula as for Compound Interest:

    12700 = 23400 (1-.115) ^t

    12700 = 23400 x 0.885^t

    0.885^t = 127/234

    Convert decimal into fraction:

    177/200^t = 127/234

    Take logarithm of both sides of thr equation:

    t = log 177/200 (127/234)

    t = 5.00242
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A new car is purchased for 23400 dollars. The value of the car depreciates at 11.5% per year. To the nearest year, how long will it be ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers