Algebra

I purchased a car for $20,000. At year 5 the car was worth $10,000. How much will it be worth at 7years?

  1. 👍
  2. 👎
  3. 👁
  1. It lost 1/2 its value in 5 years. Using a linear model, that is

    1/10 each year.

    So, in 7 years, it will have lost 7/10 of its initial value.

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math (Pre-Cal) (Exponential Functions)

    A car was valued at $38,000 in the year 2003. The value depreciated to $11,000 by the year 2009. Assume that the car value continues to drop by the same percentage. -What will the value be in the year 2013?

  2. Math

    A car depreciated (decreased in value) by 25% during the first year. If the car were purchased for $28,000, what is the car worth at the end of the first year?

  3. algebra 2

    Car depreciation- The value of a new car purchased for $20,000 decreases by 10% per year. Write an exponential decay model for the value of the car. Use the model to estimate the value after one year.

  4. math

    Suppose you buy a brand new car for $25,000. The car's value depreciates each year by $2,000. How much is the car worth after 1 year? How much is the car worth after 2 years? Write a slope intercept equation that expresses the

  1. algebra 2

    Car depreciation- The value of a new car purchased for $20,000 decreases by 10% per year. Write an exponential decay model for the value of the car. Use the model to estimate the value after one year.

  2. Math

    The graph below models the value of a $20,000 car t years after it was purchased. Which statement best describes why the value of the car is a function of the number of years since it was purchased? A: Each car value, y, is

  3. 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

  4. accounting

    A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000).

  1. Math

    A house worth $350,000 when purchased was worth $335.000 after the first year and $320,000 after the second year. If the economy does not pick up and this trend continues, what will be the value of the house after 6 years. A)

  2. Mathematics

    A salesman receives a basic salary of#750,000 a year with a commission of 6% of the value of goods sold and a car allowance of #45 per km. (a) Find the total amount he received in a year in which he sells goods worth #9,373,000

  3. math

    A car is sold for $22,000. After one year, the value of the car is $16,500. Write an exponential function y to determine the value of the car after x years if the rate of decrease is the same each year.

  4. math

    The value of a $20,000 car decreases every, t. The equation below model this situation. 20,000(1-0.04t) = 13,000 How many years will the car be worth $13,000? Round to the nearest tenth if necessary. I got 20,000(.96t)= 13,000,

You can view more similar questions or ask a new question.