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An automobile purchased for $34,800 is worth $8550 after 7 years. Assuming that the car's value depreciated steadily from year to year, what was it worth at the end of the third year?

Verified Answer :

col08

I've calculated how much the car depreciated every year which is about $3,757
In three years, that is 11,271. 
$34,800 - $11,271= $23,528
The automobile cost $23,528 at the end of the third year.

Answer:

The car's worth at the end of the third year is $23550.

Step-by-step explanation:

An automobile purchased for $34,800 is worth $8550 after 7 years.

So, annual depreciation was = @@MATH_TOKEN_0@@

= @@MATH_TOKEN_1@@ = $3750

So, in 3 years this depreciation value would have been = \(3750\times3=11250\) dollars

Hence, the value of the car at the end of the third year = \(34800-11250=23550\) dollars

The car's worth at the end of the third year is $23550.

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