Question

A boat costs $19,200 and decreases in value by 18%. How much will the boat be worth after 5 years

Answer 1

You need to be more specific: Is that 18% over 5 years or is it 18% per year for 5 years?

If over 5 years, then the value after 5 years would be (1.00-0.18)($19,200), or

$15,744.