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8 November, 04:44

A car that originally cost $20,000 depreciates by 15% each year. In about how many years will the car be worth half its value? Use the equation 10,000 = 20,000 (8.5) ^x to solve the problem. Round your answer to the nearest dollar.

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  1. 8 November, 08:28
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    It's

    0.5=0.85^x take natural log of both sides ...

    ln0.5 / (ln0.85) = x

    x≈4.265 years the car's value will be half of its original value ...

    y=20000 (0.85) ^ (4.265)

    y=$10000.00
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