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

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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) About Me  (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