Find the best answers to your questions at Westonci.ca, where experts and enthusiasts provide accurate, reliable information. Explore in-depth answers to your questions from a knowledgeable community of experts across different fields. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.
Sagot :
Answer:
4.62 years
Step-by-step explanation:
Half the car's value =>$24,000/2 = $12,000
The formula for exponential decrease =
y = a(1 - r)^t
y = Initial value = $24,000
a = Value after time t = $12,000
r = Decrease rate = 15% = 0.15
t = time in years =??
Hence,
24,000 = 12000 ( 1 - 0.15)^t
Divide both sides by 12000
24000/12000 = 12000 ( 0.85)^t/ 12000
2 = 0.85^t
We take the logarithm of both sides
log 2 = log (0.85)^t
log 2 = t log 0.85
Divide both sides by log 0.85
t = log 2/log 0.85
t = 4.62098120373 years
Approximately = 4.62 years
It would take 4.62 years to be worth half the initial price
Thank you for choosing our service. We're dedicated to providing the best answers for all your questions. Visit us again. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Get the answers you need at Westonci.ca. Stay informed with our latest expert advice.
