On average, a car will depreciate by about 21% of its value each year. If anew car costs $20,000, which equation can be used to find theapproximate number of years, n, the car takes to reach a value of $7,790?

The formula for the final value of an object after n years with decrease in cost at rate of r% per year is,
[tex]FV=IV(1-\frac{r}{100})^n[/tex]Determine the relation between initial value and final value of car.
[tex]\begin{gathered} 7,790=20,000(1-\frac{21}{100})^n \\ 7,790=20,000(0.79)^n \end{gathered}[/tex]Last option is correct.