The value of the car after 21 years is $2666.06.
Important information:
- Initial value of car = $49000
- Value depreciates by one-half every 5 years.
- Time = 21 years
Depreciations:
According to the given information, the value of the car after n years is:
[tex]V(n)=49000\left(\dfrac{1}{2}\right)^{\frac{n}{5}}[/tex]
Substitute [tex]n=21[/tex].
[tex]V(n)=49000\left(\dfrac{1}{2}\right)^{\frac{21}{5}}[/tex]
[tex]V(n)\approx 2666.06[/tex]
Therefore, the value of the car after 21 years is $2666.06.
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