SOLUTION: Can you please help me solve this problem. An automobile purchased for $17,000.00 is worth $2500 after 5 years. Assuming that the car's value depreciated steadily from year to y

SOLUTION: Can you please help me solve this problem. An automobile purchased for $17,000.00 is worth $2500 after 5 years. Assuming that the car's value depreciated steadily from year to y

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Question 320561: Can you please help me solve this problem.
An automobile purchased for $17,000.00 is worth $2500 after 5 years. Assuming that the car's value depreciated steadily from year to year, what was it worth at the end of the third year.
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
(17,000-2,500)/5=14,500/5=$2,900 is the annual depreation.
17,000-2,900*3
17,000-8,700=$8,300 value after 3 years.

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