A boat cost $12050 and decreases in value by 12% per year. how much will the boat be worth after 9 years

Question

asked Sep 19, 2018 160k views

1 Answer

Japrescott · Answer 1 · 2018-09-23T15:14:19+0000

Each year the boat is worth 100-12 = 88% ( or 0.88) of the year before

after 12 years the boat is worth 12050 * 0.88^9 = $3813.56