SOLUTION: The value of a new $3500 sailboat decreases 10% per year. Find its value after 1 year.

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Question 148604: The value of a new $3500 sailboat decreases 10% per year. Find its value after 1 year.
Found 2 solutions by mangopeeler07, jojo14344:
Answer by mangopeeler07(462) About Me  (Show Source):
You can put this solution on YOUR website!
Find 10% of 3500
10%2F100=x%2F3500

Cross multiply:
3500=10x

Divide both sides by 100
350=x

Subtract that from 3500
3500-350
3150

Value after 1 year=$3150

Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!
We can use expression:
Original+Value-%28Original+Value%2A10percent%29 per year-------- working equation
So,
3500-%283500%2A10+percent%29
$3150, value after 1 year
Thank you,
Jojo