Question

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.

Answer 1

@Michele_Laino @mathmate @phi

Answer 2

1 year has 12 months so whats 6 divide by 12?

Answer 3

1/2

Answer 4

each month it depreciates by 0.5%

Answer 5

I need one more:)

Answer 6

ok

Answer 7

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?

Answer 8

Compound interest formula\[A=P(1+\frac{ r }{ 100 })^n\]\[3000=175(1+0.3)^n\]

Answer 9

300=227.5^n

Answer 10

no it doesnt work like this

Answer 11

\[17.14285714=1.03^n\]

Answer 12

16.64^n

Answer 13

?

Answer 14

log 17.14285714 = 1.23408320596
log 5 = 0.69897000433
1.23408320596/0.069897000433

Answer 15

Thats not an answer choice

8.0111 years
96.1332 years
93.2914 years
94.8377 years

Answer 16

plug in all the in answers to the compound interest formula and try out

Answer 17

? What do you mean?

Answer 18

175(1.03)^n
replace n with all the 4 options, see which one works

Answer 19

or you take log!

Answer 20

i did

Answer 21

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

Answer 22

dayum i forgot something...the interest is compounded monthly!

Answer 23

1.0025^n=3000/175
n log(1.0025)=log(3000/175)
solve for n.

Answer 24

knew something was off

Answer 25

Ok hold on:)

Answer 26

For some reason I got C?? I think I did something wrong

Answer 27

when you find n, it will be in months
divide by 12 to get years

Answer 28

Was I right?

Answer 29

what do you get for log(3000/175) ?

Answer 30

1.23408320603

Answer 31

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

Answer 32

1.2310056918=n

Answer 33

1138.05283703 i mean

Answer 34

ok, and that is in months
divide by 12 to get years

Answer 35

94.8377...

Answer 36

yes

Answer 37

ok so going back to #1 i think sesal gave me the wrong answer??

Answer 38

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.

Answer 39

I got -0.005143% as an swer and she got -0.5% so I dont even know

Answer 40

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%

Answer 41

Ok! Thanks :) I was just checking!

Answer 42

Solve 3^(2x)=7^(x-1)
I got -7.74293 ??

Answer 43

if we put your answer into the equation it works

Answer 44

Thanks:)