Status: Waiting for your answers. Problem: A tie will depreciate in value at a 5.6% annual rate. Currently, it is worth $150. When will its value be $30? Calculate the time (to the nearest tenth in years) by using this formula.A = a(1 + r)^{t} Solution: = ( 1 - )^{t} = ( )^{t} = ( )^{t} log = t ≈ t

Calculate the time (to the nearest tenth in years) by using this formula.