Anew car is purchased for 17300 dollars. the value of the car depreciates at 9.25% per year. what will the value of the car be, to the nearest cent, after 15 years?

The value of the car be, to the nearest cent, after 15 years is $4,034.09.

Using this formula

Value=P(1-rate)^Time

Where:

Principal=17,300

Rate=9.25%

Time=15

Let plug in the formula

Value = 17,300(1-.0925)^15

Value=17,300(0.9075)^15

Value=17,300(0.23318)

Value=$4,034.09

Inconclusion the  value of the car be, to the nearest cent, after 15 years is $4,034.09.

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For this case we have an exponential equation of the form:

Where,

Substituting values in the given equation we have:

The value of the car after 15 days is given by:

4

step-by-step explanation: