A new car is purchased for $25,000\$25,000$25,000 and over time its value depreciates by one half every 5 years. How long, to the nearest tenth of a year, would it take for the value of the car to be $5,000\

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter2: Equations, Inequalities, And Problem Solving
Section2.S: Summary
Problem 8S: What interest rate would you need to get to double an investment of 200 in eight years?
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A new car is purchased for $25,000\$25,000$25,000 and over time its value depreciates by one half every 5 years. How long, to the nearest tenth of a year, would it take for the value of the car to be $5,000\$5,000$5,000?
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