SOLUTION: An equation for the depreciation of a car is given by y = A(1 � r)t , where y = current value of the car, A = original cost, r = rate of depreciation, and t = time, in years. The v

SOLUTION: An equation for the depreciation of a car is given by y = A(1 � r)t , where y = current value of the car, A = original cost, r = rate of depreciation, and t = time, in years. The v

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Question 971104: An equation for the depreciation of a car is given by y = A(1 � r)t , where y = current value of the car, A = original cost, r = rate of depreciation, and t = time, in years. The value of a car is half what it originally cost. The rate of depreciation is 10%. Approximately how old is the car?
Answer by khai(18) (Show Source): You can put this solution on YOUR website!
y = A (1-r)t
0.5 = 1(1-0.1)t
t = 5/9 or 0.55
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