SOLUTION: a machine depreciates in value each year by 8% of its value at the beginning of the year. After how many years will its value first be less than half its original value?

Question 982141: a machine depreciates in value each year by 8% of its value at the beginning of the year. After how many years will its value first be less than half its original value?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Let = it's original value
Let = it's final value
---------------------------
Let = number of years until
becomes
--------------------------

Divide both sides by

At the end of the 8th year, the value will
be less than 1/2 of it's original value
----------------------------------
check:

close enough

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