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Setler79 [48]
3 years ago
15

A new motorboat costs $6000. The value of the boat decreases by 15% each year. What is the value of the boat after 3 years?

Mathematics
1 answer:
Elodia [21]3 years ago
6 0

Answer:

 The value of the boat after 3 years is \$3,684.75  

Step-by-step explanation:

we know that

The  formula to calculate the depreciated value  is equal to  

V=P(1-r)^{x}  

where  

V is the depreciated value  

P is the original value  

r is the rate of depreciation  in decimal  

x  is Number of Time Periods  

in this problem we have  

P=\$6,000\\r=15\%=15/100=0.15\\x=3\ years

substitute

V=6,000(1-0.15)^{3}  

V=6,000(0.85)^{3}

V=\$3,684.75  

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