document.write( "Question 1070978: A new motor boat cost $6000. The value of the boat decreases by 15% each year.\r
\n" ); document.write( "\n" ); document.write( "a) Write a model to describe the situation. Let V be the value of the boat after t years.\r
\n" ); document.write( "\n" ); document.write( " V = _(_)x\r
\n" ); document.write( "\n" ); document.write( "b) What is the value of the boat after 3 years? (round to two decimals)\r
\n" ); document.write( "\n" ); document.write( " V = $_\r
\n" ); document.write( "\n" ); document.write( "c) In what year is the value of the boat $2260? (round to the year)\r
\n" ); document.write( "\n" ); document.write( " year _\r
\n" ); document.write( "\n" ); document.write( " \n" ); document.write( "

Algebra.Com's Answer #688091 by jorel1380(3719) $\"\"$ $\"About$

You can put this solution on YOUR website!
The boat loses 15% per year, which is the same as saying the boat's value is 85% of what it was the previous year. So:
\n" ); document.write( "a)V=6000(.85^t)
\n" ); document.write( "b)V=6000(.85^3)=6000x.614125=$3684.75 as the value of the boat after 3 years.
\n" ); document.write( "c)2260/6000=.85^t
\n" ); document.write( ".377=.85^t
\n" ); document.write( "log .377=log .85^t=t log.85
\n" ); document.write( "t=log .377/log .85=6.00788264468 years. ☺☺☺☺ \n" ); document.write( "

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