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A new boat costs $120,000 but the value depreciates 12% each year. What will the value of the boat be in 5 years?

A new boat costs $120,000 but the value depreciates 12% each year. What will the value of the boat be in 5 years?
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23 votes
A new boat costs $120,000 but the value depreciates 12% each year. What will the value of the boat be in 5 years?

User Makarand Patil
by
8.6k points

2 Answers

9 votes

Answer:

$63,327.83 after 5 years

Explanation:

User Andrew Flanagan
by
8.1k points
10 votes

Answer:

8,635.613184

Explanation:

User Sdffadsf
by
8.6k points
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