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A new truck sells for $48,000. If it depreciates at the rate of 18% per year, how old will it be before it's only worth $12,000?

A new truck sells for $48,000. If it depreciates at the rate of 18% per year, how old will it be before it's only worth $12,000?

Advanced Engineering Mathematics
Advanced Engineering Mathematics
10th Edition
ISBN:9780470458365
Author:Erwin Kreyszig
Publisher:Erwin Kreyszig
Chapter2: Second-order Linear Odes
Section: Chapter Questions
Problem 1RQ
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A new truck sells for $48,000. If it depreciates at the rate of 18% per year, how old will it be before it's only worth $12,000?
Transcribed Image Text:A new truck sells for $48,000. If it depreciates at the rate of 18% per year, how old will it be before it's only worth $12,000?
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