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11-09-2018
Mathematics

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A boat costs 16,000 and decreases in value by 14% per year. How much will the boat be worth after 11 years?

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smmwaite smmwaite

11-09-2018

Answer

= 3,045.10

Explanation

A = P(1 - 14/100)ⁿ

A = 16,000(1-0.14)¹¹

= 16,000 × 0.86¹¹

= 16,000 × 0.190319

= 3,045.109725

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