Don bought his car for $20,350. it is expected to depreciate an average of 11% each year during the first 5 years.

what will the approximate value of his car be in 5 years

$11364

Step-by-step explanation:

The exponential equation for depreciation is given by :-

, where P is the initial amount, r is the rate of deprivation in x years.

Given: The cost price of car = $20,350

The rate of depreciation =11%=0.11

To calculate the approximate value of his car be in 5 years, substitute x=5 in the above equation, we get

Hence, the  approximate value of his car be in 5 years is $11364.