A car was valued at $29,000 in the year 1994. The value depreciated to $11,000 by the year 2001.
A) What was the annual rate of change between 1994 and 2001?
r=
Round the rate of decrease to 4 decimal places.

That is the final value of the car ($11000) minus its initial value ($29000), all divided by the time elapsed (7 years between 1994 and 2001). Then the formula gives:

[tex]Rate=\frac{11000-29000}{7} =-\frac{18000}{7} =-2571.4286\,\frac{dollars}{year}[/tex]

Notice the negative sign due to the fact that the value is decreasing with the years.

Normally, this rate will be considered a rate of DECREASE, and its value given as $2571.4286 (without the negative sign, since the word "DECREASE" implies already a negative rate of change.

A car was valued at $29,000 in the year 1994. The value depreciated to $11,000 by the year 2001. A) What was the annual rate of change between 1994 and 2001? r= Round the rate of decrease to 4 decimal places.

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A car was valued at $29,000 in the year 1994. The value depreciated to $11,000 by the year 2001.
A) What was the annual rate of change between 1994 and 2001?
r=
Round the rate of decrease to 4 decimal places.