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March 25, 2017

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A boat is worth $7,000 when it is 5 years old and $2,000 when it is 10 years old. What is the slope intercept equation?

  • algebra - ,

    You have two points: (5,7000) and (10,2000)

    the two-point equation for the line is thus

    (y-7000)/(x-5) = (2000-7000)/(10-5)
    or, after rearranging things a bit:

    y = -1000x + 12000

    That is, the value started at $12,000, and depreciates $1000/year

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