Please help me for the brainliest answer
1 answer:
You might be interested in
Answer:
After 7.40 years it will be worth less than 21500
Step-by-step explanation:
This problem is solved using a compound interest function.
This function has the following formula:
Where:
P is the initial price = $ 34,000
n is the depreciation rate = 0.06
t is the elapsed time
The equation that models this situation is:
Now we want to know after how many years the car is worth less than $ 21500.
Then we do y = $ 21,500. and we clear t.
After 7.40 years it will be worth less than 21500
We can write the sequence out more fully, as we can see each time it is divided by 6.
60, 60/6, 60/6^2, 60/6^3, and so on.
Therefore we know the sequence can be written as
You can think of this as a graph, i.e. y=60/6^(x-1)
As a result, as x tends to infinity, y tends to 0 (since it effectively becomes 60/infinity). Therefore the sequence converges toward zero.
60, 60/6, 60/6^2, 60/6^3, and so on.
Therefore we know the sequence can be written as
You can think of this as a graph, i.e. y=60/6^(x-1)
As a result, as x tends to infinity, y tends to 0 (since it effectively becomes 60/infinity). Therefore the sequence converges toward zero.