A car was valued at $39,000 in the year 1991. The value depreciated to $12,000 by the year 2000. Use the compound interest formula S = P(1 + r) to answer the following questions. 

A) What was the annual rate of change between 1991 and 2000? T = Round the rate of decrease to 4 decimal places. 

B) What is the correct answer to part A written in percentage form? T = %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2003? value = $ Round to the nearest 50 dollars.

Answer rating: 100% (QA)

A To find the annual rate of change r between 1991 and 2000 we can use the comp... View the full answer