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A boat cost 92,000.00 and depreciates in value by 15% per year how much will the boat be worth after 10 years

A boat cost 92,000.00 and depreciates in value by 15% per year how much will the boat be worth after 10 years
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1 vote
a boat cost 92,000.00 and depreciates in value by 15% per year how much will the boat be worth after 10 years

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User Justicle
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8.0k points

2 Answers

5 votes
Guessing you are talking about compounding value here. In that case, it should be worth around 18,100 dollars.
answered
User Suraj Shourie
by
8.6k points
3 votes
A=p (1-r)^t
A=92,000×(1−0.15)^(10)
A=18,112
answered
User Asteroids With Wings
by
7.3k points
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