A town has a population of 120,900 and shrinks at a rate of 4.7% every year. Which equation represents the town's population after 8 years?P=120,900(1−0.047)P=120,900(1+0.047)8P=120,900(1−0.47)8P=120,900(0.953)8 Get tutor helpA new car is purchased for 20,000 dollars. The value of the car depreciates at a rate of 3.7% per year. Which equation represents the value of the car after 3 years?V=20,000(1−0.037)V=20,000(0.63)3V=20,000(0.963)(0.963)(0.963)V=20,000(1.037)3 Get tutor help