Afinancial 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

B)

Step-by-step explanation:

The value mid-sized car in a particular year = $15,600

The rate of decay = 8% = 0.08

The exponential decay equation for n years is given by :-

, where A is the initial amount and  r is the rate of decay.

Now, the exponential decay equation represents its value (V) after n years is given by :-

Hence, the equation which represents its value (V) after n years is given by :-