An automobile purchased for $39,000 is worth $2400 after 6 years. Assuming that the car's value depreciated steadily from year to year, what was it worth at the end of the third year?
$20, 700 is the worth of the automobile after three years. $39,000 - $2,400 = $36,600 $36,600 ÷ 6yrs = $6,100 per year $6,100 x 3yrs = $18,300 $39,000 - $18,300 = $20,700
