Jonathan purchased a dirt bike a year ago. The value of the dirt bike, in dollars, can be calculated using the expression shown below, where t is time, in years. 8,690(0.95)^12t

Use the given expression to complete the statements below.
1. The quantity that represents the initial value of the dirt bike is .

2. The quantity that reveals the rate at which the value of the dirt bike is decreasing is , 3. which means the decay rate of the dirt bike is %.

4 .The quantity that represents the number of times the value of the dirt bike decreases each year is .