Write a function for the situation described and find the value after 7 yrs. a $16,800 car depreciates 11% each year

The starting value is 20,300, and the value is decreasing by 9.5% each year.

Because it decreases by 9.5% each year based on the previous amount, we use an exponential decay model.

A decrease by 9.5% corresponds to multiplying by 91.5% each year.

We write . We plug in 11 years for t.

$7,671.18

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