Acar purchased for $34,000 is expected to lose value, or depreciate, at a rate of 6% per year. using x for years and y for the value of the car, write the equation that models this situation. after how many years is the car first worth less than $21,500?

After 7.40 years it will be worth less than 21500

Step-by-step explanation:

This problem is solved using a compound interest function.

This function has the following formula:

Where:

P is the initial price = $ 34,000

n is the depreciation rate = 0.06

t is the elapsed time

The equation that models this situation is:

Now we want to know after how many years the car is worth less than $ 21500.

Then we do y = $ 21,500. and we clear t.

After 7.40 years it will be worth less than 21500

36/60

36/2=18

60/2=30

18/30

18/3=6

30/3=10

6/10

6/2=3

10/2=5

your final answer would be 3/5 of an

hope this !

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