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Math

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An automobile purchased for 24000 is worth 2100 after 8 years. Assuming that the car's value depriciated steadily from year to year, what was it worth at the end of the third year?

  • Math - ,

    24000-8x=2100

    2737.5 each year

  • Math - ,

    2400(1+i)^-8 = 2100
    .
    .
    1+i = 1.01683

    then 2400(1.01683)^-3 = $2282.78

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