Question

your parents bought a boat for $60,000. The boat depreciate by 9.3% each yea. When will the boat be worth less than $10,000?

Answer 1

60,000 x 0.093 = 5580
60,000/5580 = 10.7526
= 11
We make our answer 11 because if we put our answer as 10 you will have more than 10,000 and you want to have less than 10,000