An automobile purchased for 22,000 is worth 2500 after 5 yrs. Assuming that the cars value deprecited steadily from year to year, what was it worth at the end of third year
Original price = 22000 New price = 2500 Amount depreciated in 5 years = 22000 - 2500 =19500 Amount depreciated in 1 year = 19500/5 = 3900 Worth after 3 years = 22000 - 3(3900) = 10300
