Final answer:
To find the new value of the car after a 7.3% decrease, we use the formula: New Value = Given Value - (Given Value * Rate of Decrease). The new value of the car is $20,857.50 after the decrease.
Step-by-step explanation:
To find the new value of the car after the decrease of 7.3%, we can use the formula:
New Value = Given Value - (Given Value * Rate of Decrease)
Given Value = $22,500
Rate of Decrease = 7.3% = 0.073
Substituting the values in the formula:
New Value = $22,500 - ($22,500 * 0.073)
Simplifying the equation:
New Value = $22,500 - $1,642.50
New Value = $20,857.50
The new value of the car is $20,857.50 after the decrease.