SOLUTION: 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

Question 1151897: 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 $ ?
Answer by jmachadok(2) (Show Source): You can put this solution on YOUR website!
Initial value - 21,000
Value after 5 years- 8,500
Depreciation - 21,000-8,500 = 12,500
Depreciation per year - 12,500/5 = 2,500
Value after year four - 8,500+2,500 = 11,000
RELATED QUESTIONS
A bulldozer was purchased by a construction company for $224,000 and has a depreciated... (answered by Boreal)

A business buys a car for $32 000. For the company records, the value of the car is... (answered by josmiceli)

An automobile purchased for $37000 is worth $2200 after 6 years. Assuming that... (answered by josgarithmetic)

A piece of machine is purchased for $1,000,000. Accountants of the firm decided to use... (answered by CPhill)

An automobile purchased for $34,000 is worth $2500 after 5 years. Assuming... (answered by ewatrrr,MathTherapy)

An automobile purchased for $39,000 is worth $25000 after 5 years. Assuming the car's... (answered by CubeyThePenguin,greenestamps)

A business owner decides to buy a company car for $53400 and assumes it will have a... (answered by Boreal)

A car which cost $18,900 when new is depreciated linearly for a period of 10 years. At... (answered by josmiceli)

A vehicle depreciates at a rate of 25% per year. A new car was purchased for $28 500. (answered by josgarithmetic)