Suppose that a car’s worth depreciates at a constant rate.  You bought the car in 2002 for $18,000 and it is now (2007) worth $12,000.  Find a formula that relates the car’s worth and the number of years after you purchased it, then use it to determine when the car will be worthless.

Q: Jack invests $1000 at a certain annual interest rate, and he invests another $2000 at an annual rate…

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Q: Jerome will be buying a used car for $15,000 in 3 years. How much money should he ask his parents…

A: Given, Future value  A=$15,000           Interest r=0.05           Time t=3 To find the Present…

Q: how long did John’s father investment have to grow from the day it was open until the day it was…

A: Given,  On John, first birthday (March 1, 1984) his father opened an investment account with Initial…

Q: A certain computer loses half of its value every two years. If the value of the computer after 3…

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Q: Logan invests $4000 at an annual interest rate of 6%.How much money will she have after 10 years if…

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Q: if the principal p is invested at an interest rate r compounded annually, the amount after t years…

A: Here, A=20,000P=10,000r=15%=0.15

Q: If prices increase at a monthly rate of 1.96%, by what percentage do they increase in a​ year

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Q: A house purchased for $162,400 gains 5% of its value every year. If this growth rate continues, in…

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Q: A boat costs $10,800 and decreases in value by 6% per year. To the nearest penny, how much will the…

A: Costs of boat after 7 years is $7003.55 .

Q: Jim places $1000 in a bank account that pays 5.6% interest compounded continuously. After 1 year,…

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Q: A boat purchased for $25,000 depreciates exponentially. After one year, the car is valued at…

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Q: An investment income of $50,000 increases at a rate of 8.3% per year. Find the value of the…

A: Given query is to find the value of the investment after 20 years.

Q: A bank loaned out $14.000, part of it at the rate of 7% per year and the rest at 17% per year. If…

A: Let the sum given at 7% of interest be x Therefore the sum given at 17% of interest = $14000-x The…

Q: $1000 is invested at 6% compounded yearly. According to the rule of 72, how many years will it take…

A: We can find the required time period as below.

Q: A car was purchased for $31,000. its value depreciates at a rate of 8% per year. After how many…

A: Since, it is given that a car was purchased for $31,000⇒P=31,000 and also it is given that value of…

Q: If you earn $1200 per month and you expect your earnings to increase by 10% per year, how much do…

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Q: A car purchased for $14, 000 depreciates at a constant rate of 12 % . What will be the value of the…

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Q: How long will it take P 12.00 to be 3 times its value if invested at the rate of 6%

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Q: One thousand dollars is to be invested in a bank for 4 years. Would 8% interest compounded…

A: To find the amount of semiannual compound interest, use the formula, A=P1+rnnt and substitute P with…

Q: How many months will it take for the debt to be completely paid off? How do you know?

A: The graph shows the payoff of a debt at a constant rate. We have to find how many months will it…

Q: 5000

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Q: Jack invests $1500 at a certain annual intrest rate, and he invests another $3000 at an annual rate…

A: Let us say he invested $1500 at x% annual interest rate. And, thus he invests $3000 at (x+0.5)%…

Q: An investment grows from $10,240 to $10,700.80 in one year. If the investment continues to grow at…

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Q: How long does it take for $9000 invested at 12% annual simple interest to be worth $11,700

A: Given, $9000 invested at 12% annual simple interest to be worth $11,700  We have to find how long it…

Q: Sue puts $6000 in an investment account that earns 4% annual interest compounded continuously.  When…

A: Here, rate, r=0.04 initial investment, P=6000 Final investment, A=20,000

Q: Larry has $1600 to invest and needs $2700 in 17 years. What annual rate of return is required for…

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Q: When purchase a stock for 10 pesos and then sell it one month later at 20 pesos, you are buying low…

A: Given problem Given that   When purchase a stock for 10 pesos and then sell it one month later at…

Q: You have $50,000 and wish to invest part at 10% and the rest at 6%. How much should be invested at…

A: You have $50,000 and wish to invest part at 10% and the rest at 6% To find: How much should be…

Q: Maria's parents invested $14,000 at 6% per year compounded monthly. How much money will there be in…

A: Compound interest is the addition of interest to the principal sum of a loan or deposit, or in other…

Q: Choosing to commute to work by driving a hybrid vehicle will save $280 every six months in fuel. If…

A: Consider the given: If money is worth 7.3% compounded semi-annually, it means that the cost of money…

Q: Jerome will be buying a used car for ​$9,000 in 3 years. How much money should he ask his parents…

A: Use compound interest formula.

Q: If P1000 accumulates to P1500 when invested at a simple interest for three years, what is the rate…

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Q: . An investment account is worth $1000 on January 1, 2020. X months before the end of 2020, the…

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Q: If you invest $600 into an account that compounds monthly and after 8 years the account has $900.…

A: From the given information, it is observed that P = $600, A = $900, t = 8. Note that, the formula to…

Q: Jacob invests $14,000 in an account that compounds interest quarterly and earns 4%. How long will it…

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Q: $14,000 is invested for 25 years, what will be the ending balance if interest is 8% compounded…

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Q: An investment of $2000 grows at a rate of 3% per year, compounded quarterly. How long will it take…

A: topic - compound interest

Q: When a principal amount, P, is Invested at an annual interest rate, r, and compounded n times per…

A: Given formula A=P1+rnnt Here, P= Principal amount r= rate of interest n= Compounded period t=time

Q: Approximately how long it would take an investment of 5,000 to double with an interest rate of 3.5%

A: Given that, Investment or principal (P) = 5000 Rate of interest (r) = 3.5% Amount (A) = 2 x 5000 =…

Q: How long will it take for an amount to double its value if invested at 9.3% simple interest?

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Q: A couple paid 30000 dollars for a house forty years ago. Today, they sold the house for 250000…

A: We have to use formula of Compounded Annual Growth Rate formula here.

Q: How long will an amount of money triple at a simple interest rate of 1% per annum? At what simple…

A: 1. Let principal P be x and amount be 3x. We know that, A=SI+P 3x=SI+xSI=2x The value of R is 1% or…

Q: If $2000 is invested at 4% interest compounded monthly, the value of the investment after t 12.04…

A: Everything is given for t years , to get invested value after 3.5 years , just substitute, t=3.5 and…

Q: Sung Lee invests $8,000 at age 18. He hopes the investment will be worth $32,000 when he turns 25.…

A: Given: P=$8000t=25-18=7 yearsA=$32000

Q: If Tina wants to earn 10% annual simple interest on an investment, how much should she invest to…

A: Topic:- simple interest

Q: A sum of money invested at compound interest doubles itself in 3 years. In how many years will it…

A: B) 9 years

Q: A car purchased for $14, 000 depreciates at a constant rate of 12 % . What will be the value of the…

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Q: A radioactive substance is decaying according to the formula y = Be-0.02t , where y mg is the amount…

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Q: Darren accumulated $9,000 in credit card debt. If the interest rate is 4.1% per year and he does not…

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Q: A car is purchased for $31,000 . Each year it loses 30% of its value. After how many years will the…

A: Let the depreciated amount be represented by D(t). then according to the given condition.