<span>The car has a starting value of $6300 and will depreciate by 8% of that original value per each ensuing year. This means that each year the value at the end of the year will be 92% of what it was when the year started.
Thus we can write an exponential function for the value V(t) where t is the number of years after purchase, such that V(t) = 6300*(0.92^t).
Substituting 4 years in for the value of t, we yield V(4) = 6300*(0.92^4) = $4513.</span>
