a. The explicit formula for the cost of the car in the nth year is $26,350(0.83^n) .
b. The car's value after 8 years is $5,934.79.
c. The decrease in the value of the car is $11,283.41.
The formula that can be used to determine the value of the car with a decline in value is:
FV = P (1 - r)^n
FV = Future value of the car
P = cost of the car
R =rate of deprecation
N = number of years
Cost of the car after n years = $26,350 x (1 - 0.17)^n
$26,350(0.83^n)
Car's value after 8 years = $26,350 x (1 - 0.17)^8
$26,350(0.83^8) = $5,934.79
Decrease in the value of the car after 3 years= cost of the car - value of the car in 3 years
Value of the car in 3 years = $26,350 x (1 - 0.17)^3 = $15,066.59
$26,350 - $15,066.59 = $11,283.41
To learn more about future value, please check: https://brainly.com/question/18760477
