Question

Kensin longs to own a Maserati. He can afford $40,000 for a car. If this year’s model sells for $135,000 and will depreciate at 10% a year, in how many years will he be able to afford this model Maserati?

Answer 1

135000(.9^n) = 40000
.9^n = .29629...

n log.9 = log .29629..
n = 11.5 years

Answer 2

How did you get .29629

Answer 3

by dividing 40,000 and 135,000

Answer 4

where is the .9 from?