Tony buys a car for £ 12600. Its value decreases by 39 per cent each year. How long will it take
for the value to drop to £ 7500? Give your answer in years to 2 decimal places and show your working.
Value after $x$ years = $$12600 \times (0.61)^x = 7500$$
$$\Rightarrow x=\log_{0.61}(0.5952)$$
$$\Rightarrow x=1.05.$$