Can someone please tell me if I did this problem right?

Question

A new truck that sells for $29,000 depreciates 12% each year. Write a function that models the value of the truck. Find the value of the truck after 7 years.

my answer=p(x)=price of truck ($)
p(x)=29000(.88)^x
value of truck after 7 yrs=$11851.59

Thanks!

correct.

Thanks much!