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19 July, 13:42

Gary bought a car for $40,000. If V = 40,000 (.85) t represents the value of the car after t years, how long will it take the car to be worth less than one-fourth of its purchase price?

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  1. 19 July, 16:42
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    40000*1/4=10000

    10000=40000 (0.85) ^t solve for t

    t=log (10,000:40,000) : log (0.85)

    t=8.5 years

    Less than one-fourth

    Assume 9000

    T=log (9,000:40,000) : log (0.85)

    T=9 years
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