precalc question

Question

A car was valued at $43,000 in the year 1991. The value depreciated to $14,000 by the year 2008.

part 1. What was the annual rate of change between 1991 and 2008?

r=__??? Round the rate of decrease to 4 decimal places.

part 2 What is the correct answer to part A written in percentage form?

r=__???

Answer 1

14000= 43000(x)^17

14000/43000= x^17

14/43= x^17

(14/43)^(1/17)=x = .9361 so rate of decrease is 1.0-.9361= .0639 or 6.39%