Question

A new car is purchased for $ 40 , 000 $40,000 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

The value of the car 17 years after it was purchased would be $2,400 to the nearest hundred dollars. This is calculated by taking the original purchase price of $40,000 and dividing it by two for each 3 year period. After 17 years, the car would be worth $2,400.