Question

A financial survey estimated that, on average, the retail value of a mid-sized car decreases 8% annually. If the value of a mid-sized car in a particular year is $15,600, which equation represents its value (V) after n years?

A) V= 15,600(1.08)^n
B) V= 15,600(0.92)^n
C) V= 15.600(0.08)^n
D) V= 15,600(0.05)^n

Answer 1

C) v=15,600(.08)^n. It's the only one with both numbers in it :)