0.92 represents the decrease in the value of the car which is 8% and this can be determined by using the given data.
Given :
The following steps can be used in order to determine what does 0.92 represents:
Step 1 - Write the given function.
[tex]f(x)=24000(0.92)x[/tex]
Step 2 - In the given function $24000 represents the original value of the car.
Step 3 - According to the given data, 'x' represents the number of years.
Step 4 - Also in the given function, '0.92' represents the decrease in the value of the car which is 8%.
Therefore, the correct option is D).
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