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Doug bought a new car for 25 000 He estimates his car will depreciate or...

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Doug bought a new car for 25 000 He estimates his car will depreciate or lose value at a rate of 20 per year The value of his car is modeled by the equation V P 1 r where V is the value of the car P is the price he paid r is the annual rate of depreciation and t is the number of years he has owned the car According to the model what will be the approximate value of his car after 4 years O 2 500 O 9 159 O 22 827 23 791

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