Question

Jeremy bought a new truck for $32,000. The value of the truck after t years can be represented by the formula V = 32,000(.8)t. When will the truck be worth approximately $6700?

Answer 1

6700=32000 (0.8)^t
Solve for t
t=log(6,700÷32,000)÷log(0.8)
t=7 years