Algebra-1

Question Analysis
This question tests the student's ability to calculate the rate of depreciation in a real-world context. The car's value decreases over time, and the student must determine the annual rate of depreciation.

Key Concept Explanation
The rate of depreciation is calculated using the formula , where is the change in value and is the change in time.

Step-by-step Solution
1. Identify the change in value:

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