Practical Mathematics for Grade 12, Problem ID: 4478
James bought a new car for $30,000.
Each year it depreciates (loses value) at a rate of 20%. The maintenance costs $3,000 the first year and it increases by 20% each year.
When does the maintenance cost exceed the value of the car?
after 5 yearsafter 6 yearsafter 4 yearsafter 7 years