Question

Jeremy bought a new truck for $32,000. The value of the truck after t years can be represented by the formula V = 32,000(.8)t. How much will the truck be worth in 2 years?

Answer 1

is there a division between .8 and t ?

Answer 2

80% of value is remained right after you first purchase the truck.
then, it loses value every year.
the equation states that this loss is: 80% / year

after two years, you still got 80% / 2 years = 40% of original value