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A boat depreciates 12.75% per year. If the boat is purchased for $7500, what is the equation of the exponential equation? How much will the boat be worth in 6 years?
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A boat depreciates 12.75% per year. If the boat is purchased for $7500, what is the equation of the exponential equation? How much will the boat be worth in 6 years?

User Scott Tomaszewski
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1 Answer

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The price of the boat in 6 years will be
(0.8725)^(6)*$7500=$3308.67 (12,75%=0.1275 - the reduction factor of boat value; after each year the price will decrease in 0.8725 times and after six years will decrease in
0.8725^(6) times)

User Anneliese
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