Question

A boat costs $19,200 and decreases in value by 12% per year. How much will the

boat be worth after 5 years?

Answer 1

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 :)