A car was valued at $44,000 in the year 1993. The value depreciates to $15,000 by year 2002. A) what was annual rate of change between 1993 and 2002?B) Assume the car value continues to drop by same percentage. What will value be in year 2007?

Answer:The car will have lost it's total value by 2007.Step-by-step explanation:If initially the car was valued at 44,000$, and after 9 years it's value dropped to 15,000$, we can say that the car's value dropped in 29,000$. If we suppose that the drop is the same every year, we can say that it was of 3,222,2$ by each year. This amount of money is the 7,3% of the initial value of the car (I multiplied 3,222,2 x 100 : 44,000). a) The annual rate of change was of 7,3%. b) There are 14 years between 1993 and 2007. If we multiply 7,3% by 14, we get that the car lost 102,2% of it's initial value.