SOLUTION: A boat costs $16,600 and decreases in value by 14% per year. How much will the boat be worth after 11 years?
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Question 763788: A boat costs $16,600 and decreases in value by 14% per year. How much will the boat be worth after 11 years?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
A boat costs $16,600 and decreases in value by 14% per year. How much will the boat be worth after 11 years?
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Each year the boat is worth 86% of its last year value.
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Ans: 16,600*0.84^11= $3159.40
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Cheers,
Stan H.
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