The value of this car when it is 9 years old is equal to $16,757.00.
<h3>How to calculate the value?</h3>
In order to determine the value of this car when it is 9 years old, we would use an exponential function which also relates to compound interest as follows:
A = P(1 - r)^t
Substituting the given parameters into the formula, we have;