Question

purchased a toyota 4Runner for $25,635. promised your daughter the suv will be hers when the car is worth $10,000. according to the car dealer the suv will depreciate approximately $3,000 per year,if your daughter is currently 15 years old, how old will she be when the 4Runner will be hers.

Answer 1

Answer:

  about 20

Step-by-step explanation:

The vehicle must decline in value by $25,635 -10,000 = $15,635. At the rate of $3000 per year, it will take ...

  15,635/3,000 ≈ 5.21167

In 5.2 years, she will be about 20 years old.