Question

A new car worth $21,000 is depreciating in value by $3,000 per year. After how many years will the car's value be $3,000?

After__years, the car's value will be $3,000.

Answer 1

• After 6 years, the car's value will be $3000

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Given

• Initial value = $21000,
• Depreciation rate = $3000 per year.

To find

• Number of years to reach $3000 in value.

Solution

This is a linear relationship, with initial value being the y-intercept and depreciation rate being the slope of the line:

• y = 21000 - 3000x, where y- the value of the car after x years.

Since y = 3000, plug it in and find the value of x:

• 3000 = 21000 - 3000x
• 3000x = 21000 - 3000
• 3000x = 18000
• x = 18000/3000
• x = 6