Question

Alexa bought a 4Runner for $39,995.00. According to the dealer, the truck will depreciate at a rate of $4,300 per year. How many years will it take for the vehicle's value to reach $9,895.00?

Answer 1

It will take approximately 7 years for the vehicle's value to reach $9,895.00.

Step-by-step explanation:

To figure out how many years it will take for the vehicle's value to reach $9,895.00, we need to set up an equation using the given information. Let's call the number of years it takes for the value to reach $9,895.00 as 'y'. Since the truck's value is depreciating at a rate of $4,300 per year, we can write the equation as: 39,995 - 4,300y = 9,895. Now, let's solve for 'y'.

1. Subtract 9,895 from both sides of the equation: 39,995 - 9,895 = 4,300y
2. Divide both sides of the equation by 4,300: (39,995 - 9,895) / 4,300 = y
3. Simplify: 30,100 / 4,300 = y
4. Calculate the value of 'y': y ≈ 7.00

Therefore, it will take approximately 7 years for the vehicle's value to reach $9,895.00.