SOLUTION: A new truck has a value of $36000. It depreciates in value 12% each year. To the nearest tenth of a year, when will the truck be worth half its original value/
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Question 1077644: A new truck has a value of $36000. It depreciates in value 12% each year. To the nearest tenth of a year, when will the truck be worth half its original value/
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
P=Po(1-0.12)^n
Po=2*P
Therefore, (0.5)=.88^n
log of both sides
-.3010=n log (.88)
divide both sides by log .88
n=5.4 years.
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