A car was valued at $28,000 in the year 1992. The value depreciated to $15,000 by the year 2000. 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 1992 and 2000? rr =  Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? rr =  %. C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2004 ? value = $  Round to the nearest 50 dollars.

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

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