you have decided to purchase a new toyota 4Runner for $25635. You have promised daughter that the suv will be hers when the car is worth $10000. According to your car dealer the suv will depreciate in value approximately $3000 per year. If your daughter is current 15 year old, how old she be when the 4runner will be hers?

Question

Mathematics

Coby Chaney

24 March, 13:31

you have decided to purchase a new toyota 4Runner for $25635. You have promised daughter that the suv will be hers when the car is worth $10000. According to your car dealer the suv will depreciate in value approximately $3000 per year. If your daughter is current 15 year old, how old she be when the 4runner will be hers?

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Answers (1)

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Emiliano Nelson · Answer 1

price of new car $25635

depreciation rate = $3000 / month

target price = $10000

daughters' age = 15 years old

time required = (25635-10000) / 3000 ≈ 5.2 years

daughter will be:

15+5.2 = 20.2 years old

if exact time is required then 20.2 is the answer

if depreciation is calculated at the end of the year, then 21 is the answer