Welcome to Bytelearn!

Let’s check out your problem:

An investment lost approximately $5\%$ of the balance each month for the past year. The amount of the investment on January $1^{\text{st}}$ of last year was $\$10,000$. Which of the following functions, $I$, models the amount of the investment (in thousands of dollars) at the end of month, $n$, where $1 \leq n \leq 12$?$\newline$Choose $1$ answer:$\newline$(A) $I(n)=10\cdot(1.05)^n$ thousand dollars$\newline$(B) $I(n)=10-0.05n$ thousand dollars$\newline$(C) $I(n)=10\cdot(0.95)^n$ thousand dollars$\newline$(D) $I(n)=10+0.95n$ thousand dollars