Question

A boat costs $12,050 and decreases in value by 12% per year. How much will the boat be worth after 9 years?

Answer 1

Hi there
The formula is
A=p (1-r)^t
A future value?
P present value 12050
R rate of decreases 0.12
T time 9 years
A=12,050×(1−0.12)^(9)
A=3,813.6 round your answer
A=3814

Hope it helps