Question

Q. 

A sailboat that costs $5,950 decreases in value by 11% per year. How much will the boat be worth after 6 years?


A) $2,957.04 B) $5,884.00 C) $2,992.96 D) $5,178.97​

Answer 1

A: $2,957.04

Explanation:

Use the formula a(1-r)^x

Plug in your values:

5,950(1-0.11)^6

Your answer should be 2957.038681

Round it to 2,957.04