Question

A new car is purchased for 24900 dollars. The value of the car depreciates at 6.75% per year. To the nearest tenth of a year, how long will it be until the value of the car is 15900 dollars?

Answer 1

the correct answer would be 5.5

Explanation:

I solved it and got it correct on the test

Answer 2

5.5 years

Explanation:

24900 times 6.75% = 1,680.75

so this is how much it goes down per year, but we have to find it were the price reaches 15900. so 9000-1680.75=

7,319.25( one year)

7,319.25-1680.75 = 5,638.5 (second year)

5,638.5-1680.75= 3,957.75 (third year)

3,957.75-1680.75 = 2,277 (fourth year)

2,277-1680.75= 596.25 (fifth year)