Given :
A new car depreciates as soon as you drive it out of the parking lot. A certain car depreciates to half its original value in 4 years. If you bought a car 8 years ago and it is now worth $5,000.
To Find :
How much did you pay for the car originally.
Solution :
Let, original price is x.
It is given that price gets half after 4 years.
So, price after 8 year is, P = x/4 .
x/4 = 5,000
x = $20,000
Therefore, price of new of car is $20,000.
Hence, this is the required solution.