Interest problem, simple
a car typically loses one half of its value in its first four years. What is the annual depreciation rate as a percentage?
i need help solving this using the formula...A = P (1+i)^n can anybody point me in the right direction, cause i dont understand what variable are we suppose to find.
Are you sure it's not
Originally Posted by magmagod
A = P (1-i)^n
with a minus sign?
Use P = initial value, A = final value, n = 4. You will set A = P/2, so the P's will cancel and you can solve for i.