a new car worth $30,000 is depreciating in value by $3,000 per year. after how many years will the cars…
a new car worth $30,000 is depreciating in value by $3,000 per year. after how many years will the cars value be $15,000? after years, the cars value will be $15,000.
Answer
Explanation:
Step1: Find the total depreciation amount
The initial value is $30000$ and the final value is $15000$. So the total depreciation is $30000 - 15000=15000$.
Step2: Calculate the number of years
The car depreciates by $3000$ per year. Let the number of years be $n$. We use the formula $n=\frac{\text{Total Depreciation}}{\text{Depreciation per year}}$. So $n = \frac{15000}{3000}=5$.
Answer:
5