A car brought for £22000 depreciates in value by 8% each year. After how many years is the car worth less than half of it's original value?
x = 8
22000 100
22000*8 = 176000
176000/100 = 1760
22000-1760 = 20240
Then, keep doing this until the number is half of 22000 or less, but the number will always be less when you find the %, so you will have to keep doing x 8
Solution of the number you just got = 100
Then, multiply the number you just got and multiply it by 8 then divide by 100 then subtract it by the number before solving the equation, and keep doing this until you get at least less than 22000.
A car brought for £22000 depreciates in value by 8% each year. After how many years is the car worth less than half of it's original value?
1 - 8% =92%
11,000 =22,000 x (0.92^n) divide both sides by 22,000
1/2 =.92^n take the log of both sides
n =Log(1/2) / Log(.92)
n=8.31 years - Just over 8 1/3 years, the car will be worth LESS than 1/2 its original value.
