Algebra 2 Word Problem

Question

Sophia bought a car for $15,000. Every year the value of the car decreases by 2.6% I know the function would 15,000(2-0.026), how many years will it take for the car to be worth 13,100?

Answer 1

After t years, the value of the car would be 15,000(1-0.026)^t

 

Solve 13,100 = 15,000(0.974)^t

This can be solved by logarithms:  ln(13,100/15,000) = t (ln 0.974); you should solve for t yourself, now.