# more logarithms help!

the depreciated value, V, of a car can be calculated using V = C91-r)^n, where C is the original value, r is the rate of depreciation per yeat and n is the age of the car in years. how long would it take for a \$24,000 car to be reduced to a value of \$2500 if the car is depreciationg at a rate of 15% per year?

1. 👍 0
2. 👎 0
3. 👁 76
1. just plug in your values:

24000(1-0.15)^n = 2500

Now solve for n. First step is

.85^n = 2500/24000

1. 👍 0
2. 👎 0
posted by Steve

## Similar Questions

1. ### math

a new car depreciated by 20% in its first year. each succeeding year it depreciated by 10% assume the car is still in good working condition after 10 years. if the car costs \$25,000 calculate the value of the car after 10 years.

asked by rio on December 23, 2010
2. ### Algebra1

3. Jackson bought a car for \$11,000.00. After 2 years, the value of the car is \$7,860.00. If the value of the car depreciated linearly, how much did the car depreciate each year?

asked by Alayzia on May 21, 2013
3. ### maths

ben bought a car for £12,000 each year the value of the car depreciated by 10% what is the value of the car 2 years after he bought it?

asked by holly on June 5, 2011
4. ### Business studies

A machine was purchased with money borrowed from the bank at a cost of k50000.00 which is expected to last for 6 years and depreciated at 12.5% per 6,the depreciated value and the accumulated interest for year two (2)year (6) .The

asked by Regina on March 18, 2017
5. ### Algebra II

the original value of a car was 16,800 after 2 years the cars value has depreciated to 9,000 find the value of the car after 5 years to the nearest dollar

asked by Chyenne on March 20, 2017
6. ### Physics

It takes a force of 53kN on the lead car of a 16-car passenger train with mass 9.1x 10^5 kg to pull it atconstant 45 m/s on level tracks. (a) What power must the locomotive provide to the lead car? (b) How much more power to the

asked by Ben on March 23, 2015
7. ### math

Mr. kumar bought a car for \$5,000 during the first year, it's value depreciated by 20%. what was the value of the car after one year.

asked by aroara on September 13, 2016
8. ### Math: Personal Finance

In order to buy a new car, you finance \$20,000 with no down payment for a term of five years at an APR (Annual Percentage Rate) of 6%. After you have the car for one year, you are in an accident. No one is injured, but the car is

asked by Kinsey on June 22, 2016
9. ### Logarithm help

use logarithm to solve A car depreciated at 15% per year. How long is it until it is worth half the original value?

asked by Bobby Funtimes on October 12, 2015
10. ### Math (Pre-Cal) (Exponential Functions)

A car was valued at \$38,000 in the year 2003. The value depreciated to \$11,000 by the year 2009. Assume that the car value continues to drop by the same percentage. -What will the value be in the year 2013?

asked by Ray on February 19, 2016

More Similar Questions