<h3><u>
Answer:</u></h3>
The given statement is FALSE.
( Since, the annual rate of depreciation is 7%)
<h3><u>
Step-by-step explanation:</u></h3>
We are given a function p(t) which is represented as:
p(t)=5000(.93)^t
where p(t) is the value of a motor scooter t years after it is purchased.
<em>we know that depreciation is the amount that has been deducted from the cost of an item.</em>
Hence, here after looking at the function p(t) we could see that 7% of the amount has been deducted each year and the value of the motor scooter is 93% of the amount of the previous year.
Hence, the annual rate of depreciation is:
7%