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anonymous

  • one year ago

A motorcycle cost $12,000 when it was purchased. The value of a motorcycle decreases by 6% each year. Find the rate of decay each month and select the correct answer below.

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  1. anonymous
    • one year ago
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    @Michele_Laino @mathmate @phi

  2. anonymous
    • one year ago
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    1 year has 12 months so whats 6 divide by 12?

  3. anonymous
    • one year ago
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    1/2

  4. anonymous
    • one year ago
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    each month it depreciates by 0.5%

  5. anonymous
    • one year ago
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    I need one more:)

  6. anonymous
    • one year ago
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    ok

  7. anonymous
    • one year ago
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    You decide to put $175 in a savings account to save for a $3,000 down payment on a new car. If the account has an interest rate of 3% per year and is compounded monthly, how long does it take you to earn $3,000 without depositing any additional funds?

  8. anonymous
    • one year ago
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    Compound interest formula\[A=P(1+\frac{ r }{ 100 })^n\]\[3000=175(1+0.3)^n\]

  9. anonymous
    • one year ago
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    300=227.5^n

  10. anonymous
    • one year ago
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    no it doesnt work like this

  11. anonymous
    • one year ago
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    \[17.14285714=1.03^n\]

  12. anonymous
    • one year ago
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    16.64^n

  13. anonymous
    • one year ago
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    ?

  14. anonymous
    • one year ago
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    log 17.14285714 = 1.23408320596 log 5 = 0.69897000433 1.23408320596/0.069897000433

  15. anonymous
    • one year ago
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    Thats not an answer choice 8.0111 years 96.1332 years 93.2914 years 94.8377 years

  16. anonymous
    • one year ago
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    plug in all the in answers to the compound interest formula and try out

  17. anonymous
    • one year ago
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    ? What do you mean?

  18. anonymous
    • one year ago
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    175(1.03)^n replace n with all the 4 options, see which one works

  19. mathmate
    • one year ago
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    or you take log!

  20. anonymous
    • one year ago
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    i did

  21. phi
    • one year ago
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    interest rate of 3% per year and is compounded monthly, that means you work in months (not years) and the interest rate is 0.03/12 the equation you want to solve is 175(1+ 0.03/12)^n = 3000 175(1.0025)^n = 3000 1.0025^n= 17.142857

  22. anonymous
    • one year ago
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    dayum i forgot something...the interest is compounded monthly!

  23. mathmate
    • one year ago
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    1.0025^n=3000/175 n log(1.0025)=log(3000/175) solve for n.

  24. anonymous
    • one year ago
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    knew something was off

  25. anonymous
    • one year ago
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    Ok hold on:)

  26. anonymous
    • one year ago
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    For some reason I got C?? I think I did something wrong

  27. phi
    • one year ago
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    when you find n, it will be in months divide by 12 to get years

  28. anonymous
    • one year ago
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    Was I right?

  29. phi
    • one year ago
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    what do you get for log(3000/175) ?

  30. anonymous
    • one year ago
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    1.23408320603

  31. phi
    • one year ago
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    so you have n log(1.0025) = 1.23408320603 divide both sides by log(1.0025) n= 1.23408320603/log(1.0025) what do you get for n

  32. anonymous
    • one year ago
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    1.2310056918=n

  33. anonymous
    • one year ago
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    1138.05283703 i mean

  34. phi
    • one year ago
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    ok, and that is in months divide by 12 to get years

  35. anonymous
    • one year ago
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    94.8377...

  36. phi
    • one year ago
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    yes

  37. anonymous
    • one year ago
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    ok so going back to #1 i think sesal gave me the wrong answer??

  38. anonymous
    • one year ago
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    A motorcycle cost $12,000 when it was purchased. The value of a motorcycle decreases by 6% each year. Find the rate of decay each month and select the correct answer below.

  39. anonymous
    • one year ago
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    I got -0.005143% as an swer and she got -0.5% so I dont even know

  40. phi
    • one year ago
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    if it has a rate of 6% per year, or in this case -6%, as a decimal is -0.06 on a monthly basis, divide by 12: -0.06/12 = -0.005 in percent: -0.5%

  41. anonymous
    • one year ago
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    Ok! Thanks :) I was just checking!

  42. anonymous
    • one year ago
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    Solve 3^(2x)=7^(x-1) I got -7.74293 ??

  43. phi
    • one year ago
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    if we put your answer into the equation it works

  44. anonymous
    • one year ago
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    Thanks:)

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