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

User PeterVC
by
7.9k points

1 Answer

4 votes
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
User Jose Llausas
by
8.2k points
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