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Gary bought a car for $40,000. If V = 40,000(.85)t represents the value of the car after t years, how long will it take the car to be worth less than one-fourth of its purchase price? A) 4 years B) 6 years C) 8 years D) 9 years

Respuesta :

Answer:

D) 9 years.

Step-by-step explanation:

We have been given that Gary bought a car for $40,000 and equation [tex]V=40,000(0.85)^t[/tex] represents the value of the car after t years.

First of all we will find the one-fourth of 40,000.

[tex]\text{One-forth of car's purchase price}=\frac{\$40,000}{4}[/tex]

[tex]\text{One-forth of car's purchase price}=\$10,000[/tex]

To find the time it will take the car to be worth less than one-fourth of its purchase price, we will substitute V=10,000 in our given equation.

[tex]10,000=40,000(0.85)^t[/tex]

Let us divide both sides of our equation by 40,000.

[tex]\frac{10,000}{40,000}=\frac{40,000(0.85)^t}{40,000}[/tex]

[tex]0.25=0.85^t[/tex]

Let us take natural log of both sides of our equation.

[tex]ln(0.25)=ln(0.85^t)[/tex]

Using natural log property [tex]ln(a^b)=b*ln(a)[/tex] we will get,

[tex]ln(0.25)=t*ln(0.85)[/tex]

[tex]\frac{ln(0.25)}{ln(0.85)}=\frac{t*ln(0.85)}{ln(0.85)}[/tex]

[tex]\frac{-1.3862943611198906}{-0.1625189294977749}=t[/tex]

[tex]8.530048563597=t[/tex]

Upon rounding our answer to the nearest year we will get,

[tex]t\approx 9[/tex]

Therefore, it will take 9 years the car to be worth less than one-fourth of its purchase price and option D is the correct choice.