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3 votes
A jet ski depreciates 11% each year. If the jet ski was $8,000 at its time of purchase, what is the value of the jet ski after 5 years?

$13,480.47
$7,120.00
$6,958.86
$4,467.25

User Aboo
by
7.6k points

2 Answers

4 votes

Explanation:

Losing 11 percent per year means 89 percent remains ...or .89 in decimal

Value = $8000 * (.89)^5 = $4,467.25

User IPeter
by
8.4k points
3 votes

Answer:

$4,467.25

Explanation:


A=P(1+r)^t\\A=8000(1-0.11)^5\\A=8000(0.89)^5\\A\approx4467.25

User Silow
by
7.9k points