Question
use logarithm to solve
A car depreciated at 15% per year. How long is it until it is worth half the original value?
A car depreciated at 15% per year. How long is it until it is worth half the original value?
Answers
Steve
each year the value is 0.85 as much. So, after t years it is worth .85^t as much. So, you want t when
.85^t = 0.5
Now take the log of both sides:
t log .85 = log .5
t = (log .5)/(log .85) = 4.26
.85^t = 0.5
Now take the log of both sides:
t log .85 = log .5
t = (log .5)/(log .85) = 4.26
Chad
An automobile depreciates by 23% per year. How soon will it be worth only half its original value?