A new car worth $25,000 is depreciating (loses value) in value by $1,250 per year. Determine how many years will it take for the car to be worth $8,500?
Mathematics · College · Tue Nov 03 2020
Answered on
Given the statement:
A new car worth $25,000 is depreciating (loses value) in value by $1,250 per year.
Determine how many years will it take for the car to be worth $8500.
Solution:
In order to determine the number of years for the car to depreciate to that amount, we subtract 25000 by 8500, and divide the difference by 1250.
=$25,000 - $8,500
= $16,500
= $16,500/$1,250
= 13.2 years
Final answer:
13.2 years