math

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Value of a new car depreciates at a rate of 12% per year.

Approximately how many years will it take until the car is worth $2300?

  • math - incomplete -

    What is the cost of the new car?

  • math -

    $23000, forgot.

  • math -

    i will repost

  • math -

    original value = 23,000

    23,000 * .88^n = 2,300

    .88 ^ n = .1

    n log .88 = log .1
    n = log .1 / log .88 =

    n = 18 years

  • math -

    is there a way to do this without using logarithms?

  • math -

    and thx btw.

  • math -

    Nope, except trial and error

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