Question

Shiyun bought a car in 1999. The value of the car V , in USD, is depreciating according to the exponential model

Answer 1

Hi there

a) the value of the car is 25000

b) v=25,000×1.5^(−0.2×3)=19,601

C) 12500=25000×1.5^(-0.2t)
Solve for t
12500/25000=1.5^(-0.2t)
Log (12500/25000)=-0.2t×log (1.5)
-0.2t=Log(12500/25000)÷log (1.5)
T=(log(12,500÷25,000)÷log(1.5))÷(−0.2)
T=8.55 years

Hope it helps