A car was valued at $28,000 in the year 1992. The value depreciated to $15,000 by the year 2000. Use the compund interest formula S=P(1+r)tS=P(1+r)t to answer the following questions. A) What was the annual rate of change between 1992 and 2000? rr = Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? rr = %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2004 ? value = $ Round to the nearest 50 dollars.
A car was valued at $28,000 in the year 1992. The value depreciated to $15,000 by the year 2000. Use the compund interest formula S=P(1+r)tS=P(1+r)t to answer the following questions. A) What was the annual rate of change between 1992 and 2000? rr = Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? rr = %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2004 ? value = $ Round to the nearest 50 dollars.
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A car was valued at $28,000 in the year 1992. The value depreciated to $15,000 by the year 2000.
Use the compund interest formula S=P(1+r)tS=P(1+r)t to answer the following questions.
A) What was the annual rate of change between 1992 and 2000?
rr = Round the rate of decrease to 4 decimal places.
B) What is the correct answer to part A written in percentage form?
rr = %.
C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2004 ?
value = $ Round to the nearest 50 dollars.
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