A foreign exchange dealer is willing to buy the new zealand dollar (nz$) at $0.7621/nz$ and will sell it at a rate of $0.7714/nz
1 answer:
You might be interested in
<h2>The car is about 6.6 years old.</h2>
Step-by-step explanation:
Given : An equation for the depreciation of a car is given by , where y = current value of the car, A = original cost, r = rate of depreciation, and t = time, in years. The value of a car is half what it originally cost. The rate of depreciation is 10%.
To find : Approximately how old is the car?
Solution :
The value of a car is half what it originally cost i.e.
The rate of depreciation is 10% i.e. r=10%=0.1
Substitute in the equation,
Taking log both side,
Therefore, the car is about 6.6 years old.