Please help!
The value of a car can be represented by the equation V=16,000(0.93)t where V is the value of the car in dollars and t is the age of the car in years.
What is the meaning of the number 0.93 in the equation?
A. As the age of the car increases by 1 year, the value of the car decreases by $7.
B. As the age of the car increases by 1 year, the value of the car decreases by 7%.
C. As the age of the car increases by 1 year, the value of the car decreases by $93.
D. As the age of the car increases by 1 year, the value of the car decreases by 93%.