Answer:
- after 2 years: $19,200
- after 8 years: $5,030
Explanation:
You want the value of a boat after 2 years and after 8 years if its value declines as shown the graph.
Graph
The value is shown as having an exponential decay. The decay rate appears to be 24/30 = 0.8 per year.
Value
The value after 2 years will be ...
30(0.8²) = 19.2 . . . . thousands
The value after 2 years is $19,200.
The value after 8 years will be ...
30(0.8⁸) ≈ 5.033 . . . . thousands
The value after 8 years is about $5,030.
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Additional comment
The graph value 15.36 is rounded to the nearest $10. We have used the same rounding above. The calculated 8-year value to the nearest penny is $5033.16. You can round this number to the precision that your grader may require. (It is quite reasonable to report the value as $5,000, as it is difficult to read more than 2 significant figures from the graph.)
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