need help i don't get it

Question

A car was valued at $32,000 in the year 1990. The value depreciated to $10,000 by the year 2004.A) What was the annual rate of change between 1990 and 2004? =  Round the rate of decrease to 4 decimal places.B) What is the correct answer to part A written in percentage form? =  %.C) Assume that the car value continues to drop by the same percentage. What will the value be in the year 2009 ?value = $  Round to the nearest 50 dollars.

Answer 1

Value t years after 1990 = 32000(1 - r)^t

32000(1 - r)¹⁴ = 10000

(1 - r)¹⁴ = 0.3125

14log(1 - r) = log(0.3125)

log(1-r) = -0.036082141

1 - r = 10^--.036082141

r = 0.079724 = 7.97%