The value of a new car depreciates at a rate of 8% per year.

Last updated: 7/31/2022

The value of a new car depreciates at a rate of 8% per year. Write an equation to represent the approximate value, V, of a car purchased for $42 000, after n years. a) $42 000(0.92)^-n b) $42 000(1.08)^n c) $42 000(0.92)^n d) $42 000(1.08)^-n