Question

a car was purchased last year for $28,500. now its value is $25,510. at what rate is the car's value depreciating each year?

Answer 1

The car's value is depreciating by $2,990 per year.

Explanation:

To solve this problem, we just need to subtract the cars value this year, or $25,510, from the car value of last year, or $28,500.

28,500 - 25,510 = $2,990

Since the car value was $2,990 more just last year, the car's value is depreciating by $2,990 per year.

Hope this helps! :D