Answer:
Little more than 5 years
Step-by-step explanation:
Given the following question:
Original value of the car is $14,000
18% depreciated or diminish in value per year.
How many years would it take for the cars value to reach $1000?
To find the answer we must first find 18% of the 14,000 speaking how that's how much the car value diminishes in a year.
18% of 14000:
[tex]\frac{p\times n}{100}[/tex]
[tex]\frac{18\times14000}{100} =18\times14000=252000\div100=2520[/tex]
[tex]=2520[/tex]
18% of 14000 is 2520, which means each year the cars value depreciates $2520 dollars.
[tex]14000-2520=11480-2520=8960-2520-6440-2520=3920-2520=1400[/tex]
[tex]=1400[/tex]
Which means it will take a "little more than 5 years" for the cars value to reach $1000.
Hope this helps.
