Answer:
<em>The car will worth $15815 after 5 years.</em>
Step-by-step explanation:
The formula is: , where P = Initial cost, A = Final cost, r = Rate of change in cost per year and t = Number of years.
Here,
and
As here the <u>value of the car depreciates every year, so we need to plug the value of as negative</u>. So,
Now plugging the above values into the formula, we will get.....
<em>(Rounded to the nearest dollar)</em>
So, the car will worth $15815 after 5 years.