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14. The value of a car after it is purchased depreciates according to the formula = V (n) 2800 (0.875), where V (n) is

14. The value of a car after it is purchased depreciates according to the formula = V (n) 2800 (0.875)", where V (n) is the car's value in the nth year since it was purchased. a. What is the purchase price of the car? b. What is the annual rate of depreciation? c. What is the car's value at the end of 3 years? d. How much value does it lose in its fifth year? [5 marks][A]

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