SOLUTION: A boat costs $19,200 and decreases in value by 12% per year. How much will the boat be worth after 5 years?

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Question 966449: A boat costs $19,200 and decreases in value by 12% per year. How much will the boat be worth after 5 years?
Answer by rfer(16322) About Me  (Show Source):
You can put this solution on YOUR website!
FV=19200(1.12)^-5
FV=19200(0.56743)
FV=$10,894.60