A boat costs $14,000 and decreases in value by 5% per year. How much will the boat be worth after 3 years?

Question

asked Nov 19, 2022 94.1k views

1 Answer

JPero · Answer 1 · 2022-11-26T09:24:06+0000

Answer:

$12,003.25.

Explanation:

The boat's values after each year is $14,000 * (100-5)%, so

the equation is A = 14000(0.95)^3

= $12,003.25.