John Baxter is a representative for a carpet manufacturer. John uses his car entirely for business. He trades in his car every 2 years. John paid $6,700 for his present car. He expects to receive $4,000 for the car when he trades it in after 2 years. What is the annual depreciation?

A (U.S.) business math course typically includes a review of elementary arithmetic, including fractions, decimals, and percentages. Elementary algebra is often included as well, in the context of solving practical business problems.