From the following information, determine the average yearly depreciation. Choose the right answer.

Question

Cost of used car = $3,000.00
Years driven = 6
Trade-in value =$1,250.00

Average yearly depreciation

Answer 1

3000 r^6 = 1250
r^6 = .416666...
r = .416666...^(1/6)
r = .864
so the annual rate of depreciation was
1 - .864 = .136 or 13.6%

you did not list your choices.

Answer 2

options are...
252.270
291.67
315.33