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Michelle buys a motorcycle for $10,000. The motorcycle loses 20% of its value each year. The depreciation of the motorcycle is shown by the graph. After how many years is the value of the motorcycle worth less than $3000
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Guest Dec 14, 2017
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10,000 x[1 - 0.20]^N < 3,000

10,000 x  0.8^N < 3,000      Divide both sides by 10,000

0.8^N < 0.3                          Take the log of both sides

N  > Log(0.3) / Log(0.8)

N > 5.4 - Years after which the value of the motorcycle will be less than $3,000.

Guest Dec 14, 2017

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