A car that originally cost $20,000 depreciates by 15% each year in about how many years will be car be worth half its value use the equation 10,000=20,000 (0.85) ^x to solve the problem round your answer to the nearest dollar

Question

Mathematics

Maverick Floyd

11 December, 14:55

A car that originally cost $20,000 depreciates by 15% each year in about how many years will be car be worth half its value use the equation 10,000=20,000 (0.85) ^x to solve the problem round your answer to the nearest dollar

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Answers (1)

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Ginger · Answer 1

0.5=0.85^x taking the natural log of both sides ...

ln0.5=x ln0.85

x=ln0.5 / (ln0.85)

x≈4.265

Then:

f=20000 (0.85) ^ (4.265)

f=$10000.00 to nearest dollar