Question

The value of a boat is depreciating at a rate of 7% per year. In 2006, the boat was worth $17,300. Find the value of the boat in 2011. Enter the exponential decay function for this situation.

The exponential decay function is y = .

In 2011 the boat will be worth $ .

Answer 1

Explanation:

`V=Ar^t\\ \\ V=17300((100-7)/100)^t\\ V=17300(0.93)^((y-2006))\\ V(2011)=17300(0.93)^((2012-2006))=\$ 11192.29`