A new car worth $25,000 is depreciating in value by $5,000 per year. After how many years will the cars value be 5,000
Let's denote the number of years as "x". We need to find the value of "x" when the car's value is $5,000.
The initial value of the car is $25,000, and it depreciates by $5,000 per year. So, the value of the car after "x" years can be expressed as:
Value = Initial Value - Depreciation per year * Number of years
In this case, the value of the car after "x" years is $5,000, so we can set up the equation as follows:
$5,000 = $25,000 - $5,000 * x
Now, let's solve for "x":
$5,000 + $5,000 * x = $25,000
$5,000 * x = $25,000 - $5,000
$5,000 * x = $20,000
x = $20,000 / $5,000
x = 4
Therefore, after 4 years, the car's value will be $5,000.