The value of the car is January 2003 is $199,148.54.
What is the value of the car?
Depreciation is the rate of decline in the value of an asset with the passage of time.
The exponential equation that can be used to determine the value of the car is:
Value of the car = purchase value(1 - rate of decline)^time
400,000 x (1 - 0.16)^(2003 - 1999)
400,000 x (0.84^4) = $199,148.54
To learn more about depreciation, please check: https://brainly.com/question/15085226
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