A new car was valued at $37,000, and it's value depreciated to $10,000 over the next 4 years. Use the exponential equation for depreciation to answer the following questions.
A) What was the annual percent rate of depreciation, to 2 decimal places? Your answer will be a positive number.
= %.
B) Assume that the car value continues to drop by the same percentage. What will the value of the car be when the car is 10 years old?
value = $ Round to the nearest dollar.
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