The value of a boat after t years is represented by the function f(t)=11,200(0.93)t

what does the value 11,200 represent in this situation?

the value of the boat increases by $11,200 each year.

the value of the boat after t years is $11,200.

the initial value of the boat is $11,200.

the value of the boat decreases by $11,200 each year.

The initial value of the boat is $11,200.

Step-by-step explanation:

An exponential function is represented by

, where A is the initial amount , b is the rate of increase or decrease and t is the time period.

The given function is an exponential function which gives the value of a boat after t years

If we put t=0 {initial time}

Thus, The initial value of the boat is $11,200.

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