Car depreciation- The value of a new car purchased for $20,000 decreases by 10% per year. Write an exponential decay model for the value of the car. Use the model to estimate the value after one year.

Answer 1

Just like the one I did for you below
x = 20,000 e^0.9 t

Answer 2

The value of a new car decreases 35% during the first year. Mr. LeMarr paid $25600 for a new car. The value of the car at the end of the first year is what? The answer is $10 140. I calculated $8960. I don"t understand how the answer is $10140. Thanks.