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Question

An automobile purchased for $34,000 is worth $2,800 after 6 years. Assuming that the car's value depreciated steadily from year to year, what was it worth at the end of the third year?

Answer 1

Hi,

 

Well after 6 years the price depreciated by 31200 dollars, so since the depreciation happens steadily from year to year it means after the 3rd year, it only got lowered by 15600 dollars, thus the price of the car was then 18400.

 

6years     31200

3 years    ?

 

 

(31200*3)/6 = 15600

34000-15600 = 18400