When sold as a new car in the 1950s, the price of a specific classic car was $13,074. It depreciated in value over the next few years. Then, in 1977, something interesting began to happen, as seen in this table of values.
a. Construct a scatter plot for the data. Let 1977 be Year 1, 1987 be Year 11, 1997 be Year 21, and so on. What do you notice about the trend?
b. Find an exponential regression equation that models this situation. Round the numbers to the nearest hundredth.
c. What kind of a rate has been used? What is the value of that rate to the nearest tenth of a percent?

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Year 1977 1987 1997 2007 2017 Value $6,500 $10,500 $22,500 $47,800 $94,000