Answer:
13 years the value of the car is 7700 dollars.
Step-by-step explanation:
Your search - { Present Volue = initial value (1-7.5%) t t is the years
∴7700 = 22300 (1-7,5%)^t
= $10.925 ) t = [tex]\frac{7700}{23300}[/tex] = 0.345 t=13
Supplement:
I year.
P value = 22300- 22300.7.5%
2 years
p value = (122300 - 22300. 7.5% ) - (22300-223107.5%)
= (22300 - 12300.7.5% ) (1-7.5%)
= 22300 (1-7.5%)(1-7.5%).
so t years :
p value = 22300 (1-7.5%)^t
