The value of the car to be, to the nearest cent, after 11 years is $7641.
Given data;
A brand-new car is bought for $20300. The car's value decreases by 9.5% annually.
To know the value of the car to be, to the nearest cent, after 11 years;
[tex]S(t) = 20300*(0.915)^t[/tex]
[tex]S(11) = 20300*(0.915)^1^1[/tex]
[tex]S(11) = 20300*0.376[/tex]
[tex]S(11) = 7640.61[/tex]
Hence, the value of the car after 11 years is $7641.
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