A new car worth $27,000 is depreciating in value by $3,000 per year. After how many years will the car's value be $15,000?
To determine the number of years it will take for the car's value to reach $15,000, we can set up an equation:
$27,000 - $3,000x = $15,000
Solving for x (number of years):
$12,000 = $3,000x
x = 4
Therefore, it will take 4 years for the car's value to reach $15,000.