If a $970 refrigerator depreciates completely in 7 years, find a formula for its value as a function of time.
a. ( V(t) = 970 × (0.92)ᵗ )
b. ( V(t) = 970 × (0.88)ᵗ )
c. ( V(t) = 970 × (0.80)ᵗ )
d. ( V(t) = 970 × (0.75)ᵗ )