Question 624816
Each year, the value of the boat decreases by 12%, only leaving 88% of the previous year's value. The same happens next year and the year after that. Do that for nine years, you would be multiplying by 88% nine times to the original value. So, here is the final equation:

{{{12050*0.88^9}}}
{{{12050*0.3165}}}
{{{3813.56}}}

The value of the boat after nine years would be $3813.56.