Principal: $49,000
Depreciation Rate: 50%
Depreciation Time: 5 years
Exponential Function: y = 49,000 (0.50)^x
Plug it in: y = 49,000 (0.50)^4
0.5^4= 0.0625
0.0625 x 49,000 = 3062.5
Value of Car after 20 years: 3062.5
Now, we need to find out how much the car decreases in ONE year.
Half of 3062.5 = 1531.25
1531.25/5 = 306.25
3062.5 - 306.25 = 2756.25
Value of car after 21 years: $2756 ---> 2800 (nearest hundred dollars my bad)
Hope this helps! Have a great day!
