Algebra-1

1. Use the formula for exponential decay:

The formula for exponential decay of the value of an asset is , where:

 is the final value of the asset.

 is the initial value of the asset. Here, = $.

 is the rate of depreciation as a decimal. Here, the car depreciates at a rate of  per year, so .

 is the number of years. Here, .

2. Substitute the values into the formula:

.

 First, calculate

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