Question

87 points and brainiest FAST TY
You bought a car for $56,000 it depreciates at a rate of 12% every year.

When will the car be worth less than $2000?

Answer 1

Answer:

• After 8 years

Step-by-step explanation:

Given:

• Initial price $56000
• Target price $20000
• Rate of depreciation 12% or 0.12

The equation for this:

• P(t) = 56000*(1 - 0.12)^t

Find the value of t:

• 20000 = 56000*0.88^t
• 0.88^t = 20000/56000
• 0.88^t = 0.35714285714
• t = log 0.35714285714 / log 0.88
• t ≈ 8

Answer 2

SOLUTION

.

• P(n) = 56.000 × (1 - 0,12)ⁿ

.

—

.

20.000 = 56.000 × (1 - 0,12)ⁿ

20.000 = 56.000 × 0,88ⁿ

0,88ⁿ = 20.000/56.000

$\boxed{ n \approx 8}$