Question

A boat costs $17,100 and decreases in value by 13% per year. How much will the boat be worth

after 12 years?
**SHOW YOUR WORK PLZ

Answer 1

`\bf \qquad \textit{Amount for Exponential Decay} \\\\ A=P(1 - r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\dotfill &17100\\ r=rate\to 13\%\to (13)/(100)\dotfill &0.13\\ t=\textit{elapsed time}\dotfill &12\\ \end{cases} \\\\\\ A=17100(1-0.13)^(12)\implies A=17100(0.87)^(12)\implies A\approx 3215.34`