a new car worth $28,000 is depreciating in value by $4,000 per year. after how many years will the cars…
a new car worth $28,000 is depreciating in value by $4,000 per year. after how many years will the cars value be $4,000? after years, the cars value will be $4,000.
Answer
Explanation:
Step1: Find the total depreciation amount
The initial value is $28000$ and the final value is $4000$. So the total depreciation is $28000 - 4000=24000$.
Step2: Calculate the number of years
The car depreciates $4000$ per year. Let the number of years be $n$. We use the formula $n=\frac{\text{Total Depreciation}}{\text{Depreciation per year}}$. So $n=\frac{24000}{4000}=6$.
Answer:
6