Question

A lawn mower cost $470 when new and is expected to last 10 years. What will it be worth in 7.5 years? (Assume the lawn mower has a value of $0 after 10 years.)

Answer 1

Answer: 117.5
Explanation: Assuming that after 10 years the lawn mower would have a value of 0. We can evenly divide $470 by the amount of years.
$750/10 = $75
We would then multiply 75*7.5 years to then realize the value lost over that amount of time would be $352.5, subtracting that from the original value of $470 would then be 117.5