Question

A new car is purchased for 18200 dollars. The value of the car depreciates at 14% per year. To the nearest year, how long will it be until the value of the car is 1900 dollars?

Answer 1

It will take approximately 16 years for the value of the car to depreciate to $1900.

Step-by-step explanation:

The formula used for exponential decay is A = P(1 - r)^t. Given the initial value of $18200 and a depreciation rate of 14% per year, we can plug these values into the formula and solve for t to find that it's approximately 16 years.

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