Solve the Problem $\$ 4700$ Its Value Each Year Is About

Multiple Choice

Solve the problem.
-A computer is purchased for $\$ 4700$ . Its value each year is about $78 \%$ of the value the preceding year. Its value, in dollars, after $t$ years is given by the exponential function $\mathrm { V } ( \mathrm { t } ) = 4700 ( 0.78 ) ^ { \mathrm { t } }$ . Find the value of the computer after 7 years.

A) $\$ 643.95$
B) $\$ 502.28$
C) $\$ 825.58$
D) $\$ 25,662.00$