Question

A new car is purchased for 22900 dollars. The value of the car depreciates at 6% per year. To the nearest year, how long will it be until the value of the car is 15700 dollars?

Answer 1

to the nearest year is 6

Explanation:

Answer 2

Answer:6.1 years

Explanation:

Given

Current worth
`C=\$ \ 22900`

rate of depreciates is
`D=6\ \%` per year

worth after T years is
`W=\$ \ 15700`

Worth after T years

`W=C(1-(D)/(100))^T`

`15700=22900(1-(D)/(100))^T`

`0.3776=0.94^T`

Taking log on both sides

`T=(\ln 0.6855)/(\ln 0.94)`

`T=6.10\ years`

So it takes 6.1 years to depreciate