You buy a car that is worth $15000. However, every year the car loses its value by 22 percent. Determine how much the car will be after 4 years. Round your answer to the nearest cent.

$5,552.26

Step-by-step explanation:

First, set up an equation using exponential decay

Let y represent the cost and let x represent the number of years

y = 15,000(0.78)^x

Plug in 4 as x, and simplify:

y = 15,000(0.78)^4

y = 5,552.26

So, in 4 years, the car will be $5,552.26

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step-by-step explanation: