A used car was bought for $15,000. When the car was new, it sold for $25000. If the car depreciates exponentially at a rate of 6% per year, approximately how old is the car?

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asked Jul 3, 2023 46.4k views

1 vote

A used car was bought for $15,000. When the car was new, it sold for

$25000. If the car depreciates exponentially at a rate of 6% per year, approximately
how old is the car?

Mathematics
high-school

Jed Lynch asked

by Jed Lynch

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1 Answer

4 votes

Answer:

around 6.66 year old

Explanation:

Dwmcc answered Jul 10, 2023

by Dwmcc

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