This is just like your earlier post. In 13 years, the value was 10/35 its original worth. So, each year it decreased by a factor of
(10/35)^(1/13) = 0.9081
That should get you started.
A car was valued at $35,000 in the year 1990. The value depreciated to $10,000 by the year 2003.
A) What was the annual rate of change between 1990 and 2003?(Round to 4 decimal places)
B)What is the correct answer to part A written in percentage form?
C)Assume that the car value continues to drop by the same percentage. What will the value be in the year 2006 ?(Round to the nearest 50 dollars)
1 answer