Pre-Calc word problem: 5-yr straight-line depreciation

[asubra26]

Mai Lee bought a computer for her home office and depreciated it over 5 years using the straight-line method. If its initial value was $2350, what is its value 3 years later?

This is the only information the problem gives. I don't understand the strategy to solving this problem.

 

[Ishuda]

Mai Lee bought a computer for her home office and depreciated it over 5 years using the straight-line method.If its initial value was $2350,what is its value 3 years later? This is the only information the problem gives,I don't understand the strategy to solving this problem.

What are your thoughts? What have you done so far? Please show us your work even if you feel that it is wrong so we may try to help you. You might also read
http://www.freemathhelp.com/forum/threads/78006-Read-Before-Posting


Hint: There are four parts to depreciation: Initial Cost ($2350 for this problem), Salvage (assumed $0 for this problem), Time of depreciation (5 years for this problem), and method (straight-line for this problem).

 

[stapel]

Mai Lee bought a computer for her home office and depreciated it over 5 years using the straight-line method. If its initial value was $2350, what is its value 3 years later?

This is the only information the problem gives. I don't understand the strategy to solving this problem.

I'm sorry to hear that neither your book nor your instructor covered this topic before you were assigned homework on it. (This is not appropriate, so you may want to have a serious talk with your academic advisor or with departmental administrators.) Since we cannot here provide the missing classroom instruction (or chapter in your text), you'll need to try to attempt online study. Try doing a search for "straight line depreciation lesson"; you'll find very many helpful results, such as here, here, and here.

Once you have studied at least two lessons from online, please attempt this exercise. If you get stuck, please reply showing your steps and reasoning so far. Thank you!