Answer
$\$23,550$
Work Step by Step
An automobile was purchased for $\$34,800$.
$7$ years later, it's worth $\$8550$.
The difference in the prices is:
$34,800-8550=26,250$ dollars.
Assuming the car's value depreciated steadily, it depreciated at the rate of:
$26,250\div7=3,750$ dollars per year.
This would make the car's price after 3 years:
$34,800-3*3,750=34,800-11,250=23,550$ dollars.
