Since the value in dollars x years from now is given by:
And the moment "right now" can be represented as x=0, then replace 0 for x in the expression and evaluate it. Since every number elevated to the 0th power is equal to 1, then:
Therefore, the car is worth $12,000 right now.
To find the value of the car one year ago, notice that the time "one year ago" can be represented with x=-1. Then, replace x=-1 into the formula:
Therefore, the car was worth approximately $13,333.33 one year ago.