Question

a boat is purchased for 24,000 and depreciates at a rate of 13.5 each year. What will be the approximate worth of the boat in 5 years

Answer 1

Explanation:

price after 5 years

`=24000(1-(13.5)/(100) )^5\\=24000(1-0.135)^5\\=24000(0.865)^5\\\approx 11622.29`

i assumed 13.5%