Answer:
P = 28,000(0.945)^y
where P is the price of the car after y years of purchase
Step-by-step explanation:
The rate of decrease is 5 1/4 % per year
This is same as 5.5% (5.5/100 = 0.055) per year
The exponential equation will be ;
P = 28,000( 1 - 0.055)^y
P = 28,000(0.945)^y
where y is the number of years after the year of purchase
