Homework Help: math

Posted by Matthew on Sunday, March 17, 2013 at 11:03pm.

The value, V, of a $25000 vehicle after y years is given by V = 25000 (0.85)y

What is the rate of depreciation? (1 mark)
What will the car be worth after 5 years? (1 mark)
To the nearest month, how long would it take to reduce the vehicle’s value to 10% of its original amount? (3 marks)

math - Reiny, Monday, March 18, 2013 at 12:09am
you probably meant

V = 25000 (.85)^y

a) replace y with 5
V = 25000(.85)^5
= ....

b) when is it worth 2500 ?
(.85)^y = .10
log both sides
log (.85^t) = log .10
t log .85 = log .10
t = log .10/log .85 = 14.168 years
or 14 years and 2 months

Answer this Question

Related Questions

math - The value, V, of a $25000 vehicle after y years is given by V = 25000 (0....
algebra - a car sells for $25000. if the rate depreciation is 15% what is the ...
finance - a car sells for $25000. if the rate depreciation is 15% what is the ...
Finance - a car sells for $25000. if the rate depreciation is 15% what is the ...
check/ help! - a new car depreciate by 20% in its first year. Each succeding ...
Math - value of $25000.00 compounded semi annually at 7% for 5 years
Math - The depreciation rate, r, for a $50,000 news car is given by the function...
Maths - Determine how long in years it will take the value of a motor vehicle to...
math car devalue - James is interested in buying a new cadillac escalade. He did...
Business Math - (DEPRECIATION SCHEDULE E) E.Office furniture for a set of ...

For Further Reading

First Name:
School Subject:
Answer: