SOLUTION: you bought a car for $10,000 four years ago, since then it has lost 20% of its original value. Assuming depreciation is linear, how many years after your initial purchase will it b

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Question 1045944: you bought a car for $10,000 four years ago, since then it has lost 20% of its original value. Assuming depreciation is linear, how many years after your initial purchase will it be when the car is only worth $1,000?
Answer by ewatrrr(24785) About Me  (Show Source):
You can put this solution on YOUR website!
bought a car for $10,000
four years lost 20% ($2000) | Depreciated $500 per year
Let x represent the number of years...
Depreciate Value = 10000 - 500x
when the car is only worth $1,000?
1000 = 10000 - 500x
500x = 10000-1000
500x = 9000
x = 9000/500
x = 18 years, when the car is only worth $1,000