Answered

A car is purchased for $13,000. Each year it loses 30% of its value. After how many years will the car be worth $1500 or less? (Use the calculator provided if
necessary.)
Write the smallest possible whole number answer.
years



Answer :

Answer:

$13,000((7/10)^t) = $1,500

(7/10)^t = 3/26

t•ln(7/10) = ln(3/26)

t = ln(3/26)/ln(7/10) = 6.05 years

After 7 years, the car will be worth $1,500 or less.