A purchased item that cost $5000 will decrease at a relative rate of 6% each year. Write a function equation for the value of the item in dollars, t years after the purchase.
Use the caret symbol (A) for exponents and the equation form:
y = a(b)^x
Use the variables:
t = the amount of time since the purchase (years)
V(t) = the value of the item after t years (dollars)
Do not use spaces or commas when you write the equation.