Question

A car that originally cost $20,000 depreciates by 15% each year in about how many years will be car be worth half its value use the equation 10,000=20,000(0.85)^x to solve the problem round your answer to the nearest dollar

Answer 1

0.5=0.85^x  taking the natural log of both sides...

ln0.5=x ln0.85

x=ln0.5/(ln0.85)

x≈4.265

Then:

f=20000(0.85)^(4.265)

f=$10000.00 to nearest dollar