160k views
4 votes
a boat cost $12050 and decreases in value by 12% per year. how much will the boat be worth after 9 years

User Pnadczuk
by
7.8k points

1 Answer

5 votes
Each year the boat is worth 100-12 = 88% ( or 0.88) of the year before

after 12 years the boat is worth 12050 * 0.88^9 = $3813.56
User Japrescott
by
7.8k points