Status: Waiting for your answers. Problem: A sweater will depreciate in value at a 7.8% annual rate. Currently, it is worth $300. When will its value be $96? 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.