Question
Value of a new car depreciates at a rate of 12% per year.
Approximately how many years will it take until the car is worth $2300?
Approximately how many years will it take until the car is worth $2300?
Answers
Ms. Sue
What is the cost of the new car?
Hasane
$23000, forgot.
Hasane
i will repost
Damon
original value = 23,000
23,000 * .88^n = 2,300
.88 ^ n = .1
n log .88 = log .1
n = log .1 / log .88 =
n = 18 years
23,000 * .88^n = 2,300
.88 ^ n = .1
n log .88 = log .1
n = log .1 / log .88 =
n = 18 years
Hasane
is there a way to do this without using logarithms?
Hasane
and thx btw.
Damon
Nope, except trial and error