SOLUTION: A jet ski has an initial value of $9800. The jet ski depreciates by 12% per year after it is purchased new. Write an equation to represent the value of the jet ski, V, after T year

Question 1033422: A jet ski has an initial value of $9800. The jet ski depreciates by 12% per year after it is purchased new. Write an equation to represent the value of the jet ski, V, after T years.
Answer by jorel555(1290) (Show Source): You can put this solution on YOUR website!
If the jet ski depreciates at a rate of 12% per year, then it's value at the end of each year is (100-12)%, or 88% of its' value from the beginning of the year. Thus, the value, V, after T years is:
V=9800 X .88^T, where T is the jet skis' age.
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