Question

The value of a new boat purchased is $46,000. The value of the boat is estimated to decrease by 19% each year. Allow x to represent the years since the boat is purchased and y to represent the value of the boat in year x. Write an equation which can be used to determine of the value of the boat in x years?

Answer 1

y = $46,000 × (1 - 0.19)ˣ

Step-by-step explanation:

Data provided in the question:

Value of the new boat = $46,000

Decrease in the value of the boat each year = 19%

x = Number of year

y = value of boat in year x

Now,

value of the boat in year x will be,

y = Value of the new boat × ( 1 - Decrease in the value of the boat )ˣ

or

y = $46,000 × (1 - 0.19)ˣ