SOLUTION: a used car values at 12,000 decreased in value to 4900 in 5 years. find the annual rate of depreciation

Algebra ->  Exponential-and-logarithmic-functions -> SOLUTION: a used car values at 12,000 decreased in value to 4900 in 5 years. find the annual rate of depreciation      Log On


   

Question 1008537: a used car values at 12,000 decreased in value to 4900 in 5 years. find the annual rate of depreciation
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
a used car values at 12,000 decreased in value to 4900 in 5 years. find the annual rate of depreciation
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Equation:
12000*x^5 = 4900
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x^5 = 0.40833
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x = 0.8356
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Ans: 83.56%
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Cheers,
Stan H.