Check out the big brain on BJ !!!
She is correct...it IS betwen 9 and 10 years
Let's see if we can narrow it down a little more.....
500 = 15000(.7)^t where t is the time to depreciate to $500 ....divide both sides by 15000
1/30 = .7^t take the log of both sides
log (1/30) = log.7 ^t and we can write
log(1/30) = t * log .7 divide both sides by log.7 and we have
log(1/30) / log. 7 = t = about 9.5 years......
