Alex purchased a new car for $28,000. the car's value depreciates 7.25% each year. what will be the value of the car 5 years after it is purchased? round your answer to the nearest dollar.

For this case we have a function of the form:

Where,

A: initial value

b: decrease rate

x: time in years

Substituting values we have:

For the year number 5 we have:

the value of the car 5 years after it is purchased will be: