Answer:
X=5/4 or 1.25
Solution:
Make algebraic equation to solve
4x-3=2
Solve
4x=2+3=5
X=5/4
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Answer: 13.375% per year
Explanation:
1) Depreciation is the loss of value: $ 20,000.00 - $ 14,650.00 = $ 5,350
2) The percent of depreciation is amount of the depreciation divided by the value of the car when purchased, times 100.
That is (5,350 / $ 20,000) * 100 = 26.75 %
2) The rate is percent of depreciation per year:
depreciation rate = % of depreciation / number of years = 26.75% / 2 = 13.375% per year.