A pollster contacts 74 people in the 18-21 age bracket and finds that 38 of them respond and 36 refuse to respond. When 297 peop
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Answer:
About 3.73 yrs
Step-by-step explanation:
This is a compound decay problem. Which has the formula:
Where
F is the future amount (we want it to be 2000)
P is the present amount (which is 4600)
r is the rate of decay, depreciation (20% per year means 20/100 = 0.2)
t is the time in years (which we want to find)
Substituting, we find:
Now we take natural log (Ln) of both sides and solve:
So, it will take about 3.73 years for the value to depreciate to $2000