Acar dealership creates an expression to model the value of a new car t years after it is
purchased. if the value of the car is p(0.88)', where p is the purchase price,
which statement is true?
the value of the car decreases by 12% each year.
the value of the car decreases by 88% each year.
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the value of the car increases by 12% each year.
the value of the car increases by 88% each year.
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The value of car decreases by 12% each year.

Step-by-step explanation:

A car dealership creates an expression to model the value of a new car t years after it is purchased and the expression is ..... (1)

Now, if the value of the car depreciates at a rate of r% each year, then the value of the car (Say, P) will be depreciated to the value

...... (2)

Now, comparing the expressions in (1) and (2), we get

⇒

⇒ r = 12%.

Therefore, the value of the car decreases by 12% each year. (Answer)

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step-by-step explanation: