Answer :
Answer: the value of the car would be $4706.8 after 13 years.
Step-by-step explanation:
We would apply the formula for exponential decay which is expressed as
A = P(1 - r)^t
Where
A represents the value of the car after t years.
t represents the number of years.
P represents the initial value of the car.
r represents rate of decay or depreciation.
From the information given,
P = 24800 dollars
t = 13 years
r = 12% = 12/100 = 0.12
A = 24800(1 - 0.12)^13
A = 24800(0.88)^13
A = $4706.8 to the nearest cent