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A boat costs $19,200 and decreases in value by 12% per year. How much will the boat be worth after 5 years?

A boat costs $19,200 and decreases in value by 12% per year. How much will the boat be worth after 5 years?
asked 167k views
1 vote
A boat costs $19,200 and decreases in value by 12% per year. How much will the

boat be worth after 5 years?

asked
User Harshul Pandav
by
8.2k points

1 Answer

3 votes
Find 10% of $19,200 = 1,920
Find 2% of $1,920 = 384
12% = $2,304
19,200 - 2,304 = 16,896 (year 1)
Repeat this until you have your 5th year :)
answered
User Khazrak
by
8.0k points
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