Answer: 5635.19 dollars (approx)
Step-by-step explanation:
Since, the initial value of car is 16400 dollars,
And, it is decreasing per year by the rate of 12.5%
Thus, the new price of car after x years,
[tex]f(x) = 16400(1-\frac{12.5}{100} )^x[/tex]
[tex]f(x) = 16400(1-0.125 )^x[/tex]
[tex]f(x) = 16400(0.875 )^x[/tex]
For x = 8 years,
[tex]f(8) = 16400(0.875 )^8[/tex]
[tex]f(8) = 16400\times 0.343608915806[/tex]
[tex]f(8) = 5635.18621922\approx 5635.19[/tex]
Therefore, the price of car after 8 years is 5635.19 dollars(approx)
