Answer:
$3474.25
Step-by-step explanation:
Use the compound amount formula A = P(1 + r)^t. Here r is the rate as a decimal fraction and is -0.15. t represents the number of y ears. P is the initial value of the car.
Then: A = ($15,000)(1 - 0.15)^9, or
A = ($15,000)(0.85)^9 = $3474.25
