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?

Answer 1

24000-8x=2100

2737.5 each year

Answer 2

2400(1+i)^-8 = 2100
.
.
1+i = 1.01683

then 2400(1.01683)^-3 = $2282.78