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Nick bought a new car. Each year the car depreciates in value by 12%. Work out the number of years it takes for the car to half in value.

Nick bought a new car. Each year the car depreciates in value by 12%. Work out the number of years it takes for the car to half in value.
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Nick bought a new car.

Each year the car depreciates in
value by 12%.
Work out the number of years it takes for the car to half in value.

User Randomize
by
7.8k points

1 Answer

5 votes
car decreases in value by 12% per year:

1 year = 12%
4 years = 48%
5 years = 60%
per month = 1%

answer: it will take 4 years and 2 months for the car to half in value
User Raphael Michel
by
9.4k points
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