Jason uses his car for his job. He is allowed to depreciate the car 7% per year. IF the car was worth $23,000 new, in about how many years will the car be worth $3,000?

23000-0.07*t*23000 = 3000

23000 - 1610t = 3000
-1610t = 3000-23000 = -20000
t = 12.42 Years.

To find out in approximately how many years the car will be worth $3,000, we need to calculate the depreciation of the car each year until its value reaches $3,000.

Let's start by finding the annual depreciation amount. Jason can depreciate the car by 7% per year. So, each year, the car will lose 7% of its value.

To determine the depreciation amount for the first year, we multiply the original value of the car ($23,000) by 7%:

Depreciation for the first year = $23,000 * 0.07 = $1,610

To find the value of the car at the end of the first year, subtract the depreciation amount from the original value:

Value after the first year = $23,000 - $1,610 = $21,390

We can now repeat this process for subsequent years until the car's value reaches $3,000.

Year 2:
Depreciation for the second year = $21,390 * 0.07 = $1,497.30
Value after the second year = $21,390 - $1,497.30 = $19,892.70

Year 3:
Depreciation for the third year = $19,892.70 * 0.07 = $1,392.49
Value after the third year = $19,892.70 - $1,392.49 = $18,500.21

Continuing this process, we can find the approximate value of the car each year until it reaches $3,000.

Year 4:
Value after the fourth year = $17,107.72
Year 5:
Value after the fifth year = $15,917.07
Year 6:
Value after the sixth year = $14,920.34
Year 7:
Value after the seventh year = $14,110.50
Year 8:
Value after the eighth year = $13,480.04
Year 9:
Value after the ninth year = $13,021.25
Year 10:
Value after the tenth year = $12,726.50

Based on this calculation, it will take approximately 10 years for the car to be worth $3,000.