Question

Question 1 of 5 A home has an original value of $249,000. Each year, the value of the home decreases by 7.1%. Select the equation that models the situation after t years. V = 249,000(1.071)t V = 249,000(0.929)t V = 249,000(0.071)t V = 249,000(0.29)t

Answer 1

V = 249,000(0.929)^t

Explanation:

100% - 7.1% = 92.9% = 0.929

0.929 must be raised to t, the number of years.

V = 249,000(0.929)^t