SOLUTION: A lawn mower cost $490 when new and is expected to last 10 years. What will it be worth in 6.5 years?

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Question 322374: A lawn mower cost $490 when new and is expected to last 10 years. What will it be worth in 6.5 years?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
In 10 years, it will be worth $0.
Find the slope of the depreciation curve using the points (0,490) and (10,0).
m=%28y2-y1%29%2F%28x2-1%29=%280-490%29%2F%2810-0%29=-49
y=-49x%2Bb
490=-49%280%29%2Bb
b=490
highlight%28y=-49x%2B490%29
Find y when x=6.5
y=-49%286.5%29%2B490
y=-318.5%2B490
y=171.50
The value would be $171.50.