(3) According to carfax.com, the value of a new vehicle can drop by 20 percent after the first 12 months of ownership. Then, for the next four years, you can expect your car to lose roughly 10 percent of its value annually. Use the depreciation rates listed by CARFAX to find the value after 5 years of a brand new Ford F-150 purchased for $62,520. Round to the nearest dollar. https://www.carfax.com/blog/car-depreciation $ Hint As you may recall from Collaboration M.5: In general, exponential decay models are written as A=Psup(bracket(1-r),t) P is the starting value r is the elimination rate expressed as a decimal A is the amount amount after time t