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I hope the equation will be 2000=16000(1-r)^t because t is missing in the equation which we need to find.
Given rate: r= 35%= 0.35.
So, first step is to plug in 0.35 for r in the given formula to get the value of t.
Hence, the equation will be:
2000=16000(1-0.35)^t
2000=16000(0.65)^t (By subtraction)
2000/16000= 16000(0.65)^t /16000 (Dividing each sides by 16000)
0.125 = 0.65^t (By simplifying).
log 0.125 = log 0.65^t (Taking log each sides to isolate t).
log 0.125 = t log 0.65 (By applying the log property).
(Dividing each sides by log 0.65)
-0.903/-0.187 =t
t= 4.83
t= 5 ( Rounded to nearest integers)
So, Devon's car is 5 years old.