Concept explainers
Find the time for the worth of the car to become half of its original value.
Answer to Problem 12MPS
5 years
Explanation of Solution
Given:
The value of a certain car decreases at a rate of 12% annually.
Calculation:
Let the worth of the car becomes half in time t .
Let the original worth of car = x
Apply the depreciation formula :
A = Final amount
P = Principle value(initial )
r = annual rate of depreciation in decimals
t = number of years
Here,
Since the value of car decreases annually at the rate of 12%
So, r = 0.12 , A =
Substitute the values in the formula and solve for t :
So, the number of years = 5 years
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Algebra and Trigonometry: Structure and Method, Book 2
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