Devon purchased a new car valued at $16,000 that depreciated continuously at a rate of 35%. Its current value is $2,000. The equ
ation mc025-1.jpg represents the situation, where t is the age of the car in years and r is the rate of depreciation. About how old is Devon’s car? Use a calculator and round your answer to the nearest whole number.
Cost =16000
rate of depreciation = 35%
written down value = 2000
depreciation for one year =16000*35% = 5600
5600*2 = 11200+5600*6\12 = 2000
the car is 2.5 years old. It has been depreciated for 2 whole years and half
years.
