Yes your answer is correct
Pi & Phi in the human body. nautilus shells, Sunflowers, Seahorses, Pine Cones, Fibonacci Sequence etc.
Dividing 20 by 100 gives us 1%. so 0.2 × 3 = 0.6 so it take 3 0.2s to get to 0.6. meaning 0.6 is 3% of 20.
Current value of the boat = $45000
Rate at which the value decrease = 8.5%
Value decreased after 1 year = 
Hence, value becomes = 
Value decreased after 2nd year =

Hence, value becomes = 
Value decreased after 3 year =

Hence, value becomes = 
So, value of the boat after 3 years becomes $34472.74