Tristan purchased a new car in 2000 for $22,800. The value of the car has been depreciating exponentially at a constant rate. If the value of the car was $10,400 in the year 2006, then what would be the predicted value of the car in the year 2016, to the nearest dollar?

Cost of the car in year 2016 will be $2811.

Step-by-step explanation:

Cost price of the car = $22800

Value of the car has been depreciating exponentially, so the formula for value   of the car after t years,

Here P(t) = Final value after t years

A = Cost price or initial value

r = rate of depreciation

t = duration in years

0.87737 =

r = 100(1 - 0.87737)

r = 12.26%

Now cost of the car in year 2016 (After 16 years)

P(16) =

        =

        = 2810.99

        = $2811

Therefore, cost of the car in year 2016 will be $2811.

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