A boat costs 14950 and decrease in value by 7% per year how much will the boat be worth after 8 yea

Discussion in 'Calculator Requests' started by math_celebrity, Jan 23, 2020.

  1. math_celebrity

    math_celebrity Administrator Staff Member

    A boat costs 14950 and decrease in value by 7% per year how much will the boat be worth after 8 years?

    If a boat decreases in value 7% in value, then our new value each year is 100% - 7% = 93%. So we have a B(y) function where B(y) is the value of the boat after y years:
    B(y) = 14,950 * (1 - 0.07)^y

    Simplifying, we get:
    B(y) = 14,950 * (0.93)^y

    The problem asks for B(8)
    B(8) = 14,950 * (0.93)^7
    B(8) = 14,950 * 0..6017
    B(8) = 8,995.43
     

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