The value of a cell phone decreases exponentially at a rate of 24% each year after its release date. If the initial value of the phone is $700, the situation can be modeled by the equation v (t) = 700(0.76)^t, where v is the value of the cell phone t years since its release true statement.
A. As t increases, v increases quickly at first and then slowly.
B. As t increases, v decreases slowly at first and then quickly.
C. As t increases, v increases slowly at first and then quickly.
D. As t increases, v decreases quickly at first and then slowly.