Question

A new car is purchased for $47,000 and over time its value depreciates by one half

every 4.5 years. What is the value of the car 23 years after it was purchased, to the
nearest hundred dollars?

Answer 1

The value of the car 23 years after it was purchased is approximately $2,900.

Step-by-step explanation:

To find the value of the car 23 years after it was purchased, we need to understand the depreciation rate. The car depreciates by one half every 4.5 years, which means it loses half of its value every 4.5 years. So after 4.5 years, the car's value will be $47,000/2 = $23,500. After another 4.5 years, the car's value will be $23,500/2 = $11,750. Similarly, after 13.5 years, the value will be $11,750/2 = $5,875. Finally, after 23 years, the value will be $5,875/2 = $2,937.50.

Rounding this value to the nearest hundred dollars, the value of the car 23 years after it was purchased is approximately $2,900.

Answer 2

$1,500

Step-by-step explanation:

Divide the 23 years into 4.5, then take the $47,000 given and reduce it by 1/2 depending on the answer, then round.

In this case: divide 23 into 4.5. The result ends in 5.1. Reduce the $47,000 by 1/2 five times to get your result, the round it tp the nearest 100.

Hope this helps! :)