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Chris plans to purchase a car that loses...

Chris plans to purchase a car that loses it value at rate of 14% per year. If the initial cost of the car is $27,000, which of the following equations should Chris use to determine the value, v, of the car after 4 years?

A

`v=27,000(1.14)^(4)`

B

`v=27,000(0.14)^(4)`

C

`v=27,000(0.86)^(4)`

D

`v=27,000(0.86times4)`

Text Solution

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The correct Answer is:
C
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