SOLUTION: Shannon buys a car for $33,500. The car depreciates in value by 15% pere year. How long will it take the car to decline below $15,000 in value? F. 8 years G. 7 years H. 6 year

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Question 137751: Shannon buys a car for $33,500. The car depreciates in value by 15% pere year. How long will it take the car to decline below $15,000 in value?
F. 8 years
G. 7 years
H. 6 years
J. 5 years
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
V%28t%29=V%5B0%5D%280.85%29%5Et
where
V%5B0%5D=33500
15000=33500%280.85%29%5Et
%280.85%29%5Et=0.4478
t=log%280.85%2C0.4478%29
t=log%2810%2C0.4478%29%2Flog%2810%2C0.85%29
t=4.94
The closest answer is J. 5 years.