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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
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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

User Narayana
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1 Answer

12 votes

Answer:

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%

User Carmi
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