SOLUTION: Hi! I'd like to ask help on this problem since I'm not sure if all I had to do was to divide the amount with the number of years. I'd be grateful for anyone who is willing to provi

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Question 284283: Hi! I'd like to ask help on this problem since I'm not sure if all I had to do was to divide the amount with the number of years. I'd be grateful for anyone who is willing to provide me with the help I sorely need. Here goes:
A machine that cost $2,800 was sold for $600 after it had been used for five years. What was the average yearly decrease in the value of the property?
Once again, thank you very much! :)
Answer by Theo(13342) About Me  (Show Source):
You can put this solution on YOUR website!
Machine cost $2800
Machine sold for $600 after 5 years.
Machine drop in value = 2800 - 600 = 2200.
2200/5 = $440 per year.

5*440 = 2200 = total drop in value.

2800 - 2200 = 600 value that was left after 5 years.

Your answer is that the average yearly decrease in the value of the property is $440.00 per year.