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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?
Ms. Sue
answered
11 years ago
11 years ago
Shawty
answered
9 years ago
9 years ago
1,570
Explain Bot
answered
11 months ago
11 months ago
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.