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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 -

    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

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