10 5. A new car decreases in value exponentially after it is purchased. The value. V dollars, of a new car n years after it is purchased is given by the equation V - 20 000(0.84)". a) What was the purchase price of the car? (1 Mark) b) By what percent does the value of the car decrease each year? (2 Marks) c) Estimate the value of the car 7 years after it was purchased. (2 Marks)