Answer:
$3400
Step-by-step explanation:
The exponential function describing the value can be written as ...
v(t) = (initial value) · (growth factor)^(t/(growth period))
You are given ...
initial value = 36000
growth factor = 1/2
growth period = 5 years
Then the function is ...
v(t) = 36000(1/2)^(t/5) . . . . where t is in years
For t = 17, the value is ...
v(17) = 36000 · (1/2)^(17/5) ≈ 3410.36
17 years after it was purchased, the value is predicted to be about $3400.
