The yearly depreciation rate for a certain vehicle is modeled by r = 1 − ( V C ) 1 / n , where V is the value of the car after n years, and C is the original cost. a. Determine the depreciation rate for a car that originally cost $18,000 and is worth $12,000 after 3 yr. Round to the nearest tenth of a percent. b. Determine the original cost of a truck that has a yearly depreciation rate of 15% and is worth $11,000 after 5 yr. Round to the nearest $100.
The yearly depreciation rate for a certain vehicle is modeled by r = 1 − ( V C ) 1 / n , where V is the value of the car after n years, and C is the original cost. a. Determine the depreciation rate for a car that originally cost $18,000 and is worth $12,000 after 3 yr. Round to the nearest tenth of a percent. b. Determine the original cost of a truck that has a yearly depreciation rate of 15% and is worth $11,000 after 5 yr. Round to the nearest $100.
The yearly depreciation rate for a certain vehicle is modeled by
r
=
1
−
(
V
C
)
1
/
n
, where V is the value of the car after n years, and C is the original cost.
a. Determine the depreciation rate for a car that originally cost $18,000 and is worth $12,000 after 3 yr. Round to the nearest tenth of a percent. b. Determine the original cost of a truck that has a yearly depreciation rate of 15% and is worth $11,000 after 5 yr. Round to the nearest $100.
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