Question

A new car is purchased for 20000 dollars. The value of the car depreciates at 11% per year. To the nearest tenth of a year, how long will it be until the value of the car is 5700 dollars?

Answer 1

The number of years before the new car becomes $5700 is 11.4 years.

How long would it take the value of the car to become $5700?

Depreciation is when the value of an asset declines with the passage of time.

Number of years = (In FV / PV) / r

• r = rate of depreciation
• FV = future value of the car
• PV = purchase value of the car

(IN 5700 / 20,000) / 0.11 = 11.4 years

To learn more about depreciation, please check: https://brainly.com/question/25552427

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