SOLUTION: Ms. Smith purchased a car in 2017 for $30,000. If the value of her car depreciates at a rate of 12% per year, how long will it take for the value of her car to reach $12,000?
Algebra.Com
Question 1134298: Ms. Smith purchased a car in 2017 for $30,000. If the value of her car depreciates at a rate of 12% per year, how long will it take for the value of her car to reach $12,000?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
12000=30000*0.88^x, x is number of years
this is 0.4=0.88^x
take log both sides
log 0.4=x log 0.88
divide by log 88 both sides
x=7.17 years or in the 8th year.
RELATED QUESTIONS
George buys a car for $25 000 in January 2017. If the car depreciates at a rate of 12.5%... (answered by jorel1380)
If a new car costs $18,000.00 and depreciates at a rate of 12% per year, what will be the (answered by stanbon)
Sam has purchased a $30,000 car for his business. The car depreciates 30% every year.... (answered by ikleyn)
A new car is purchased for 17000 dollars. The value of the car depreciates at 13.5% per... (answered by MathLover1)
The value of a new car depreciates at a rate of 34% each year from the year it is driven... (answered by stanbon)
Kiana purchased a car for $14000 and realized that the value of the car depreciates at a... (answered by richwmiller)
you purchased a used car that depreciates at a rate of 9% per year. what is the decay... (answered by stanbon)
A used car has a value of $15,250 when it is purchased in 2012. The value of the car... (answered by Theo)
Jonas purchased a new car for $25,000. Each year the value of the car depreciates by 20%... (answered by josmiceli)