You buy a car in 2017 for $25,000. The value decreases by 16% each year. How much will the car be worth in 2022? Round your answer to the nearest penny, 2 decimal places.

The appropriate answer is "10,455.29856".

Step-by-step explanation:

According to the question,

The time will be:

⇒  t =

⇒    =

On applying formula, we get

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On substituting the value of "t", we get

⇒

⇒        

On solving the power, we get

⇒        

⇒        

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