Asked by Steph
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?
Answers
Answered by
Chopsticks
24000-8x=2100
2737.5 each year
2737.5 each year
Answered by
Reiny
2400(1+i)^-8 = 2100
.
.
1+i = 1.01683
then 2400(1.01683)^-3 = $2282.78
.
.
1+i = 1.01683
then 2400(1.01683)^-3 = $2282.78
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.