A car is purchased for 16,500. After each year, the resale value decreases by 35% . What will the resale value be after 4 years? Use the calculator provided and round your answer to the nearest dollar.

Answer
$6,778

Explanation
The compound interest formula is A=p(〖1+r%)〗^t.
Where A = The total amount accumulated 
P = Amount invested
r = interest rate
t = the period of investment
So,
A=6000(〖1+5%)〗^2.5
A=6000×〖1.05〗^2.5
A=6,778.357932
To the nearest whole number the answer is $6,778