A new car worth $18,000 is depreciating in value by $3,000 per year. After how many years will the cars value be $6,000
Let's denote the number of years as "x".
Since the car is depreciating by $3,000 per year, we can write the equation:
18,000 - 3,000x = 6,000
To find the value of "x", let's solve the equation:
18,000 - 3,000x = 6,000
Subtract 6,000 from both sides:
18,000 - 6,000 - 3,000x = 6,000 - 6,000
12,000 - 3,000x = 0
Subtract 12,000 from both sides:
12,000 - 12,000 - 3,000x = -12,000
-3,000x = -12,000
Divide both sides by -3,000:
x = (-12,000)/(-3,000)
x = 4
Therefore, the car's value will be $6,000 after 4 years.