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------------------------------------------------ A car loses [tex]$12\%$[/tex] of its value per year. If it starts at a price of [tex]$\$20,000$[/tex], how would you calculate its value after one year?

A. [tex]20000 - 12[/tex]

B. [tex]20000 - 88[/tex]

C. [tex]20000 \times 0.12[/tex]

D. [tex]20000 \times 0.88[/tex]

E. [tex]20000 \times 1.12[/tex]

We start with a car priced at \[tex]$20,000. After one year, the car loses 12% of its value. Losing 12% means that the car retains 88% of its value, since

$[/tex][tex]$100\% - 12\% = 88\%,$[/tex][tex]$

and in decimal form, 88% is $[/tex]0.88[tex]$.

Thus, the value of the car after one year is calculated by multiplying the initial price by $[/tex]0.88[tex]$:

$[/tex][tex]$\text{Remaining value} = 20000 \times 0.88.$[/tex][tex]$

Carrying out the multiplication, we find that the car’s value after one year is \$[/tex]17,600.