Solve 2/5 x + 1/2 = 5/6
2 answers:
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Answer:
Dan's car depreciated by 54% after 6 years.
Step-by-step explanation:
Price of a depreciating asset:
The price of a depreciating asset after t years is given by:
In which P(0) is the initial price and r is the decrease rate, as a decimal.
Dan's car depreciates at a rate of 12% per year.
This means that , so
By what percentage has Dan's car depreciated after 6 years?
Relative to the initial value, the value after 6 years is given by:
The value after 6 years if 0.44 of the initial value, that is, there was a depreciation of 100 - 46 = 54%.
Dan's car depreciated by 54% after 6 years.