A new car is purchased for 20700 dollars. The value of the car depreciates are 11% per year. What will the value of the car be, to the nearest cent, after 11 years?

Answer: $5,744.61

Step-by-step explanation:

year 1 = - 2,277

year 2 = - 2026.53

year 3 = - 1803.61

year 4 = - 1605.21

year 5 = - 1428.64

year 6 = - 1271.49

year 7 = - 1131.62

year 8 = - 1007.17

year 9 = - 896.36

year 10 = - 797.76

year 11 = - 710

you are subtracting 11% from each year.