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Math

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The depreciation rate, r, for a $50,000 news car is given by the function r = 1 - (V/50,000)^(1/5), where V is the value of the car when it is five years old.

a) What is the depreciation rate for a $50,000 BMW that is worth $28,000 after 5 years? (I already found the answer to this: 10.95%)

b) Write V as a function of r (Help me answer this part!)

Thank you!

  • Math -

    (V/50,000)^(1/5) = 1-r

    V/50,000 = (1-r)^5

    V = 50,000 (1-r)^5

  • Math -

    What did you do with the exponent?

  • Math -

    how do you do part a?

  • Math -

    Steph, I raised both sides of the equation to the fifth power.

  • Math -

    Anonymous

    r = 1 - (28/50)^.2
    = 1 - .56^.2
    = 1 - .89
    = .1095 or 10.95%

  • Math -

    Thank you!!

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