Question

A jet ski depreciates at 11% of its original value 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?

Answer 1

Answer : $4,400

Ex
11% each year
Total money $8000
How many years : 5
11% x 5 =0.55 or 55%
$8000 x 0.55 = $4400
I don’t know for sure but I hope this helps.

Answer 2

Answer: $4467.25

Explanation:

Exponential decay problem. 8000(0.89)^5.

100-11 = 89

89/100= 0.89, that is how we got the decimal.

Then, solve.

0.89 * 0.89 * 0.89 * 0.89 * 0.89 = 0.5584059449

0.5584059449 * 8000 = 4467.2475592

Round the decimal part to the nearest hundredth, which is $4467.25.