A rental car company purchased a new Honda Civic for $27,505. The company determined this asset should be depreciated for five years using the straight-line depreciation method. At the end of five years, the car will be worth $10,115. How much does the car depreciate each year? Write an algebraic model (a linear equation) to find the value of the car given the years since purchase. Use your model to find the actual value of the car at Year 4. Show your work.

A rental car company purchased a new Honda Civic for $27,505. The company determined this asset should be depreciated for five years using the straight-line depreciation method. At the end of five years, the car will be worth $10,115. How much does the car depreciate each year? Write an algebraic model (a linear equation) to find the value of the car given the years since purchase. Use your model to find the actual value of the car at Year 4. Show your work.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter4: Equations Of Linear Functions

Section4.1: Writing Equations In Slope-intercept Form

Problem 3GP

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Question

How much does the car depreciate each year? Write an algebraic model (a linear equation) to find the value of the car given the years since purchase. Use your model to find the actual value of the car at Year 4. Show your work.

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