Question

Guys this is due tomorrow! Please help me!!

A new car is purchased for 21300 dollars. The value of the car depreciates at 5.75% per year. To the nearest tenth of a year, how long will it be until the value of the car is 9200 dollars?

Answer 1

So first set up an equation. y = 21300 (0.9425)^t
Now you want the y value to be 9200 so you set that equal to y. 9200/21300= 0.9425^t
t=14.2 years