A car was valued at $44,000 in the year 1992. The value depreciated to $14,000 by the year 2004. Use the compund interest formula S = P(1 + r) to answer the following questions. A) What was the annual rate of change between 1992 and 2004? T = Round the rate of decrease to 4 decimal places. B) What is the correct answer to part A written in percentage form? %. T = C) Assume that the car value continues to drop by the same percentage. What will the value be in 2008 ? value = $ Round to the nearest 50 dollars.

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