Concept explainers
To find:The correct option for the value of the car in year 2012.
Answer to Problem 3STP
The value of the car in the year 2012 is
Explanation of Solution
Given:
The cost of car in year 2005 is $28,500.
The cost of car in year 2008 is $23,700
Calculation:
The standard form of slope and intercept form of the straight line is
Here m is the slope of the straight line and c is the y- intercept of the equation.
The depreciation in the cost of car for 3 years is
The depreciation per year is
The equation for the value of the car can be written as
Substitute 7 for t and calculate the valyue of the car in year 2012.
Therefore, the value of the car in the year 2012 is
Chapter 4 Solutions
Algebra 1
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