The predicted value of the car in the year 2007 is 13310
Given the purchased value of new car in 1998 is $ 32,900
The value of car was $ 19,900 in the year 2003
We need to find the value of the car in the year 2007
Let the predicted value be x
The exponentially constant rate in 2003
32900*x^5 = $19900 (∵ x^5 = 5 years difference that is 1998 to 2003 )
Now In year 2007
2007 = 32900*x^9
x = 0.9043
The predicted value of the car is 0.09043
But we want the predicted value in 2007
Therefore ,
In 2007 ≈ x = 13310.02
Rounding off to the nearest dollar is $13310
Therefore the predicted value of the car in 2007 is $13310
Learn more predicted value here
https://brainly.com/question/24305645
#SPJ4
