An automobile purchased for $29,000 is worth $2400 after 7 years. Assuming that the car's value depreciated steadily from year to year, what was it worth at the end of the third year?

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Paula T asked Feb 26, 2023

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An automobile purchased for $29,000 is worth $2400 after 7 years. Assuming that the car's value depreciated steadily from year to year, what was it worth at the end of the third year?

Mathematics
college

Paula T asked Feb 26, 2023

by Paula T

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1 Answer

10 votes

Take 29,000 subtract 2400
26,600
Divide 26,600 by 7 to represent the seven years
3800 now times that by 3 years to show the worth after 3 years

Answer:11,400

Jonas Metzler answered Mar 2, 2023