Devon purchased a new car valued at $16,000 that depreciated continuously at a rate of 35%. Its current value is $2,000. The equation mc025-1. Jpg represents the situation, where t is the age of the car in years and r is the rate of depreciation. About how old is Devon’s car? Use a calculator and round your answer to the nearest whole number. 1 year 2 years 5 years 8 years.

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japhetlaguna53
10 months ago

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**Answer:**

C 5 years

**Step-by-step explanation:**

The

ageof thecarthatDevon purchasedis given by: Option C: 5years## How to calculate compound interest's amount?

If the initial

amount(also called asprincipal amount) is P, and theinterestrate is R% per unit time, and it is left for T unit of time for that compound interest, then theinterestamount earned is given by:The final

amountbecomes:We can use

compound interest'sformula (with a bit modification if necessary) whenever there iscompoundingon abase amounton somefixed rateforsome time.For this case, there is

decrementhappening, so rate can be takennegative. Thus, we take:R = -35%

Let the

caris T years old.Then, as we have:

Initial priceof the car = P = $16000, and thefinal priceof thecar= A = $2000, thus, we get:Thus, the

ageof thecarthatDevon purchasedis given by: Option C: 5yearsLearn more about

compound interesthere:https://brainacademy.pro/question/11897800