1. **State the problem:** We need to find the value of a car after 11 years if it depreciates at 9.5% per year from an initial value of 20300. 2. **Formula used:** The value after depreciation is given by the exponential decay formula: $$ V = P(1 - r)^t $$ where $P$ is the initial value, $r$ is the depreciation rate (as a decimal), and $t$ is the time in years. 3. **Identify values:** - Initial value $P = 20300$ - Depreciation rate $r = 0.095$ - Time $t = 11$ 4. **Calculate:** $$ V = 20300(1 - 0.095)^{11} = 20300(0.905)^{11} $$ 5. **Intermediate step:** Calculate $0.905^{11}$: $$ 0.905^{11} \approx 0.3677 $$ 6. **Multiply:** $$ V = 20300 \times 0.3677 = 7462.31 $$ 7. **Final answer:** The value of the car after 11 years is approximately **7462.31**.