In the year 2013, John's boat had a value of $16,000. When he bought the boat in 2007 he paid $29,000. If the value of the boat depreciated linearly, what was the annual rate of change of the boat's value? Round your answer to the nearest hundredth if necessary.
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Answer:
$2200
Step-by-step explanation:
Decrease In Price = $(29000 - 16000) = $13000.
Time Span = 6 yrs.
Annual Rate of Change = $(13000 / 6) = $2166.66 = $ 2200 Per Annum.
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