A new car is purchased for 16400 dollars. The value of the car depreciates at 12.5%
per year. What will the value of the car be, to the nearest cent, after 8 years?

5635.19 dollars  (approx)

Step-by-step explanation:

Since, the initial value of car is 16400 dollars,

And, it is decreasing per year by the rate of 12.5%

Thus, the new price of car after x years,

For x = 8 years,

Therefore, the price of car after 8 years is 5635.19 dollars(approx)