The value of a boat after t years is represented by the function f (t) = 11,200 (0.93) t
What does the value 11,200 represent in this situation?
The value of the boat increases by $11,200 each year.
The value of the boat after t years is $11,200.
The initial value of the boat is $11,200.
The value of the boat decreases by $11,200 each year.
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