Question

A new car is purchased for $ 41 , 000 $41,000 and over time its value depreciates by one half every 3 years. What is the value of the car 17 years after it was purchased, to the nearest hundred dollars?

Answer 1

$800

Explanation:

A = P
`(0.5)^(t)`

Because it's every 3 years, you need to find how many 3 years in the 17-year-period of time.

17/3 = 5.666...

P is initial amount:

A = $41, 000
`(0.5)^(5.666...)`

A = 41, 000 (0.01968...)

A = 807.13692...

A ≈ $800

Rounded to the nearest hundred dollars.