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13 May, 05:17

A car that originally cost $20,000 depreciates by 15% each year in about how many years will be car be worth half its value use the equation 10,000=20,000 (0.85) ^x to solve the problem round your answer to the nearest dollar

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  1. 13 May, 05:58
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    0.5=0.85^x taking the natural log of both sides ...

    ln0.5=x ln0.85

    x=ln0.5 / (ln0.85)

    x≈4.265

    Then:

    f=20000 (0.85) ^ (4.265)

    f=$10000.00 to nearest dollar
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