Answer:
3.5 years.
Step-by-step explanation:
The formula for depreciation is as follows (I had to look it up too):
worth after time = initial worth * (rate)^t
In this case it depreciates which means that the rate is 1-0.18 = 0.82.
we know it will be worth 15,000,
So substituting would give us
[tex]15,000= 30,000(0.82^{t})[/tex]
now we we need to solve for t, so we will end up with
1/2 = 0.82^t
log (1/2) = t log(0.82)
t = [tex]\frac{log(1/2)}{log(0.82)}[/tex]
Therefore, t is roughly 3.5 years.
Great question, hope this helps.
