A car purchased for $21,000 was worth $8,500 after 5 years. If the cars value depreciated, or decreased, by the same amount each year, what was its yearly loss in value? At the end of the fourth year, the car was worth $?

Question

Mathematics

Janessa Preston

16 June, 01:50

A car purchased for $21,000 was worth $8,500 after 5 years. If the cars value depreciated, or decreased, by the same amount each year, what was its yearly loss in value? At the end of the fourth year, the car was worth $?

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Answers (1)

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Izzy · Answer 1

Answer:$2,500 was the yearly loss in value. $11,000 was its value at the end of the fourth year.

Step-by-step explanation:

Total loss in value = $21,000 - $8,500 = $12,500

Since are five years = 12,500/5years = $2,500 a year, yearly loss

Value of car after 4 years = $21,000 - 4yearx$2,500/year

Value of car after 4 years = $21,000 - $10,000 = $11,000

Answer:$2,500 was the yearly loss in value. $11,000 was its value at the end of the fourth year.

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