Question

A new car is purchased for 15700 dollars. The value of the car depreciates at 7.5% per year. To the nearest year, how long will it be until the value of the car is 10100 dollars?

Answer 1

Answer:

10100=15700(1-0.075)^x

10100=15700(0.925)^x

divide both sides by 15700

0.925^x=101/157

convert decimal

(37/40)^x=101/157

take the log

x= log 37/40 (101/157)

x= 5.65824