Twenty years ago, a collector purchased a painting valued at $850.00. The value of the painting since that time can be modeled by the function
f(t)=850(0.78)', where t represents the number of years since the initial
purchase. Which of the following statements is true?
O
The value of the painting has increased by $663.00 each
year.
e
O
The value of the painting has decreased by 22% each year.
The value of the painting has increased by 78% each year.
0
a
The value of the painting has decreased by $187.00 each
year.