Answer:
$ 5476.58 ( approx )
Step-by-step explanation:
Given,
The initial value of the car, P = $ 11,000,
Rate of changing, r = - 16% = -0.16,
Time, t = 4 years,
Hence, the value of the car would be,
[tex]A=P(1-r)^t=11000(1-0.16)^4[/tex]
[tex]=11000(0.84)^4[/tex]
[tex]=\$ 5476.58496[/tex]
[tex]\approx \$ 5476.58[/tex]
