Asked by kyle
An investment made in the stock market decreased at a rate of 4% per year for 5 years. What is the current value of the $1,000,000 investment? Include your calculations in your final answer.
A new car is sold for its sticker value of $19,400. Three years later, the customer returns to the car dealership to trade the car in. She is told that her car now has a value of $12,105. What is the rate of decline in the value of the car? In your final answer, include all of your calculations.
A new car is sold for its sticker value of $19,400. Three years later, the customer returns to the car dealership to trade the car in. She is told that her car now has a value of $12,105. What is the rate of decline in the value of the car? In your final answer, include all of your calculations.
Answers
Answered by
Reiny
What part of oobleck's solution did you not like for this problem?
https://www.jiskha.com/questions/1805169/A-new-car-is-sold-for-its-sticker-value-of-19-400-Three-years-later-the-customer
The strange part is that you even thanked him for it.
As to your first question:
1000000(1 - .04)^% = .....
https://www.jiskha.com/questions/1805169/A-new-car-is-sold-for-its-sticker-value-of-19-400-Three-years-later-the-customer
The strange part is that you even thanked him for it.
As to your first question:
1000000(1 - .04)^% = .....
Answered by
Damon
.96^5 * 10^6
I do not know if the car decreases a constant amount or a constantt percentage per year.
If a constant percentage
19400 x^3 = 12105
x^3 = .624
3 log x = -0.2048
log x = -0.06828
x = .8545
1 - x = .145
14.5 % per year
I do not know if the car decreases a constant amount or a constantt percentage per year.
If a constant percentage
19400 x^3 = 12105
x^3 = .624
3 log x = -0.2048
log x = -0.06828
x = .8545
1 - x = .145
14.5 % per year
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