A boat is worth $7,000 when it is 5 years old and $2,000 when it is 10 years old. What is the rate of depreciation?

College Algebra
10th Edition
ISBN:9781337282291
Author:Ron Larson
Publisher:Ron Larson
Chapter1: Equations, Inequalities, And Mathematical Modeling
Section1.3: Modeling With Linear Equations
Problem 1ECP: You accept a job with an annual income of $58,400 . This includes your salary and a $1200 year-end...
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A boat is worth $7,000 when it is 5 years old and $2,000 when it is 10 years old. What is the rate of depreciation?
O $2,000
O $500
O $1,000
O $5,000
here to search
N
Transcribed Image Text:A boat is worth $7,000 when it is 5 years old and $2,000 when it is 10 years old. What is the rate of depreciation? O $2,000 O $500 O $1,000 O $5,000 here to search N
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