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A boat is purchased for 24,000 and depreciates at a rate of 13.5 each year. What will be the approximate worth of the boat in 5 years

A boat is purchased for 24,000 and depreciates at a rate of 13.5 each year. What will be the approximate worth of the boat in 5 years
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19 votes
a boat is purchased for 24,000 and depreciates at a rate of 13.5 each year. What will be the approximate worth of the boat in 5 years

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User Narayana
by
9.2k points

1 Answer

12 votes

Answer:

Explanation:

price after 5 years


=24000(1-(13.5)/(100) )^5\\=24000(1-0.135)^5\\=24000(0.865)^5\\\approx 11622.29

i assumed 13.5%

answered
User Carmi
by
7.8k points
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