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A boat cost $12050 and decreases in value by 12% per year. how much will the boat be worth after 9 years

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

User Pnadczuk
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1 Answer

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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
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