Math

posted by .

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

Respond to this Question

First Name
School Subject
Your Answer

Similar Questions

  1. check/ help!

    a new car depreciate by 20% in its first year. Each succeding year its depreciate by 10% assume the car is still good working condition after ten years. if the car costs $25000, calculate the value of the car after 10 years?
  2. math

    A rule of thumb used by car dealers is that the trade-in value of a car decreases by 30% each year. That is, the value at the end of any year is 70% of its value at the beginning of the year A.Suppose that you own a car whose trade-in …
  3. Calculus

    After t years, the value of a car that originally cost $16,000 depreciates so that each year is is worth 3/4 of it's value for the precious year. Find a model for V(t), the value of the car after t years. Sketch a graph of the model …
  4. Advanced Functions

    he value of a new car depreciates at a rate of 12% per year. Write an equation to represent the approximate value of a car purchased for $23 000. Determine the value of the car two years after it is purchased. Approximately how many …
  5. math

    Real Estate an office building purchased for $1, 200,000 is appreciating because of rising property values in the city. At the end of each year its value is 105% of its value at the end of the previous year. a. Use a recursive formula …
  6. Math

    Real Estate an office building purchased for $1, 200,000 is appreciating because of rising property values in the city. At the end of each year its value is 105% of its value at the end of the previous year. a. Use a recursive formula …
  7. Algebra

    Jonas purchased a new car for $25,000. Each year the value of the car depreciates by 20% of its value the previous year. In how many years will the car be worth $5000?
  8. Algebra

    Jonas purchased a new car for $25,000. Each year the value of the car depreciates by 20% of its value the previous year. In how many years will the car be worth $5000?
  9. Math

    An automobile purchased for ​$31,000 is worth ​$2800 after 6 years. Assuming that the​ car's value depreciated steadily from year to​ year, what was it worth at the end of the third​ year?
  10. maths

    a car depreciates at rate of 10%per year. the car cost £20000 new. (a) explain why the car wont be worth £16000 after 2 years (b) show that the car will be worth £16200 after 2 years and find the value of the car after 3 years (c) …

More Similar Questions