Question

A boat costs $12,250 & decreases in value by 11% per year how much will the boat be worth after 4 years

Answer 1

So it decreases by 11% which means by the next year it's worth 89% of the original price, write 89% like a decimal. then put it to the power of 4 (4 years) and multiply by the original number
.89 ^ 4 * 12250 = 7685.92