Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 1 - Problem Solving and Critical Thinking - 1.3 Problem Solving - Exercise Set 1.3: 25

Answer

$\$14,300$

Work Step by Step

An automobile was purchased for $\$23,000$. $7$ years later, it's worth $\$2700$. The difference in the prices is: $23,000-2700=20,300$ dollars. Assuming the car's value depreciated steadily, it depreciated at the rate of: $20,300\div7=2900$ dollars per year. This would make the car's price after 3 years: $23,000-3*2900=23,000-8700=14,300$ dollars.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.