In the year 2006, a person bought a new car for $13500. For each consecutive year after that, the value of the car depreciated by 9%. How much would the car be worth in the year 2009, to the nearest hundred dollars?
PV ==13,500 x 0.91^3
==13,500 x 0.753571
==$10,173.21 - value of the car in 2009
