The value of the car in 2014 is 154709
<h3>How to determine the value?</h3>
The given parameters are:
Initial, a = 599,99
Rate, r = 7%
The value of the car in t years is
Value = a * (1 + r)^t
This gives
Value = 59999 * (1 + 7%)^t
2014 is 17 years from 1997.
So, we have:
Value = 59999 * (1 + 7%)^14
Evaluate
Value = 154709
Hence, the value of the car in 2014 is 154709
Read more about exponential functions at:
brainly.com/question/11487261
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