Ronny purchases a new car for $21,500, but it loses 12% of its value over time. The graph below represents the value of his car over many years. Which statement best describes the meaning of the asymptote of y=0 in this situation? Ronny's car will only be worth about $6000 of its original value after 10 years.

Ronny's car will be worth $0 after 50 years.

Ronny's car will approach a value of $0, but never be equal to $0.

Ronny's car will only be worth 88% of its original value each year.