Question 179439: Hello dear tutor,
I need help with a certain math problem today that we just learned in class, but I can only get how to do really with like an actual example from my homework, which is why I am here, trying to learn! So here is the question! Thanks so much for helping out! it means ALOT!
On federal income tax returns, self-employed people can depreciate the value of business equipment. Suppose a compter valued at $2765 depreciates at a rate of 30% per year. Estimate the number of years it will take for the computer's value to be less than $350.
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! On federal income tax returns, self-employed people can depreciate the value of business equipment. Suppose a compter valued at $2765 depreciates at a rate of 30% per year. Estimate the number of years it will take for the computer's value to be less than $350.
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If it depreciates 30% each year it must retain 70% of its value each year.
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Equation:
A(t) = A(0)*0.70^t
Your Problem:
2765(0.70)^t < 350
0.70^t < 0.1265823...
Taket the log of both sides to get:
t*log(0.70) < log(0.1265823..)
Solve for "t":
t > -0.897627.. / -0.1549020
t > 5.7948 years
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Cheers,
Stan H.
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