Answer:
$1,567.62
Step-by-step explanation:
If the car depreciates 50% every 6 years, we can do the following:
$43,000 ÷ 2(year 6) = $21,500
$21,500 ÷ 2(year 12) = $10,750
$10,750 ÷ 2(year 18) = $5,375
$5,375 ÷ 2(year 24) = $2,687.5
Now, for us to know how much it depreciates in 5 years to reach 29 years:
50% = 0.5 = 1/2 ÷ 6years = 0.0833 annually * 5years = 0.4167
$2,687.5 * 0.4167 = $1,119.88
$2,687.5 - $1,119.88 = <u>$1,567.62 is the value of the car 29 years after!</u>
