Question

A jet ski depreciateseason at 11% of its original value each year. If the jest ski was $8,000 at its time of purchase, what is the value of the jet ski after 5 years?

Answer 1

$4,467.25

Explanation:

it was right on the quiz

Answer 2

Answer: $3,600

Explanation:

Yearly depreciation is 11% of $8,000, which is $880.

5 years times $880 = $4,400.

Original price of $8,000 less depreciation of $4,400 leaves a book value of $3,600.