The price of a motor car P is related to its age t by the differential equation. dP 2P 10+t dt a) Solve this equation to obtain P, given that the price of the car when new is K15,000. b) At what age will the price of the car be half the initial price?

The price of a motor car P is related to its age t by the differential equation. dP 2P 10+t dt a) Solve this equation to obtain P, given that the price of the car when new is K15,000. b) At what age will the price of the car be half the initial price?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The price of a motor car P is related to its age t by the differential equation.
dP
2P
10 + t
dt
a) Solve this equation to obtain P, given that the price of the car when new is K15,000.
b) At what age will the price of the car be half the initial price?

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Step 1: Determine the given information:

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Step 2: Determine the price equation:

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Step 3: Determine the value of t when price is half of 15,000:

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