A new car is purchased for $44,000$44,000 and over time its value depreciates by one half every 5.5 years. What is the value of the car 3 years after it was purchased, to the nearest hundred dollars?

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# A new car is purchased for $44,000$44,000 and over time its value depreciates by one half every 5.5 years.

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A new car is purchased for $44,000$44,000 and over time its value depreciates by one half every 5.5 years. What is the value of the car 3 years after it was purchased, to the nearest hundred dollars?