Sydney purchases a new car for $27,500. The value of the car decreases at rate of 15% each year. In approximately will the $1,25
4?
2 answers:
Answer:
Time taken n = 19 years (Approx)
Step-by-step explanation:
Given:
Amount of car P = $27,500
Decrease rate r = 15% = 0.15
Final amount A = $1,254
Find:
Time taken n
Computation:
A = P[1-r]ⁿ
1,254 = 27,500[1-0.15]ⁿ
0.0456 = [0.85]ⁿ
Time taken n = 19 years (Approx)
Answer: 5 years
Step-by-step explanation:
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