Write equations to solve each of the following problems.

1. When the Gleo Retro (a trendy commuter car) is brand new, it costs $$23,500$. Each year it loses $15\%$ of its value. What will the car be worth when it is $15$ years old?

   Hint (a):

   $y = 23500 · \left(0.85\right)^{x}$

   Answer (a):

   $$2052.82$

2. Each year the population of Algeland increases by $12\%$. The population is currently $14{,}365{,}112$. What will the population be $20$ years from now?

   Partial answer (b):

   $y = 14,365,112 · \left(1.12\right)^{x}$