A car was valued at $27,000 in the year 1991. The value depreciated to $13,000 by the year 2007. Use the compund interest formula S=P(1+r)tS=P(1+r)t to answer the following questions. A) What was the annual rate of change between 1991 and 2007? r =  Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A wrote in percentage form? r =  %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2011? value = $  Round to the nearest 50 dollars

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Q: S=P(1+r)tS=P(1+r)t

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