Algebra-1

To find the original price of the car when it was new, we can use the formula for exponential depreciation:

V = A⋅(1 - r)^t
Where:
V is the current value of the car ($16,000)
A is the original price of the car when it was new (unknown)
r is the depreciation rate (5.45% or 0.0545)
t is the number of years (3)

Plugging in the values, we have:

$16,000 = A * (1 - 0.0545)