C=2.50+2m
This is your standard y=mx+b equation. 2.50 is your y intercept or starting point. 2m is the slop of the line. 2 on the x axis for every 1 on the y axis.
This the only option to find x since doing the other way like 3x + 2 = 3x + 2 gives it an infinite solution.
4x - 1 = 3x + 2
-3x -3x
1x - 1 = 2
+1 +1
1x = 3
--- ----
1 1
x = 3
Check:
4(3) - 1 = 3(3) + 2
12 - 1 = 9 + 2
11 = 11
we can use formula
now, we can find a and b
Initially , price is 500
so,
At
now, we can plug back
At
we can use it and find b
now, we can solve for b
and we get
so,
annual depreciation rate is 27.144%.......Answer