The value of a car, in dollars, years after it was purchased is modeled by the function . Which of the following statements is the best interpretation of the number 0.88 in this context?
The car's value decreases by 88% each year.
The car's value is 88% of its original value after years.
The car retains 88% of its value from the previous year.
The car's value decreases by 12% of its original value each year.
