If a car is purchased for $16,000, what is the predicted value of the car in 4 years if it depreciates at a rate of
15% per year? round to the nearest cent, if necessary. (hint: the formula for depreciation is p(1-p), where p
is the principal or initial amount, r is the yearly rate of depreciation expressed as a decimal, and is the time in
years.)
a. $6,400.00
b. $8,352.10
c. $15,991.90
d $9.600.00