Question

Max bought a new speed boat that cost of $33,000. The boat depreciates approximately 18% of its value each year. Write an equation to model the decay value of the speed boat.

Answer 1

F=33000(0.82)^t

Answer 2

Exponential growth/decay can be expressed as:

F=Ir^t, F=final amount, I=initial amount, r=rate, t=time, in this case:

F=33000(1-0.18)^t

F=33000(0.82)^t