3. Jackson bought a car for $11,000.00. After 2 years, the value of the car is $7,860.00. If the value of the car depreciated linearly, how much did the car depreciate each year?

(11,000 - 7,860)/2 = ?

1,570

To find out how much the car depreciated each year, we need to calculate the change in value over the course of 2 years and then divide that by the number of years.

First, let's calculate the change in value:

Change in value = Initial value - Final value
Change in value = $11,000.00 - $7,860.00
Change in value = $3,140.00

Now, we can determine the annual depreciation:

Annual depreciation = Change in value / Number of years
Annual depreciation = $3,140.00 / 2 years
Annual depreciation = $1,570.00

Therefore, the car depreciated by $1,570.00 each year.