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Mumz [18]
3 years ago
9

today a boat valued at $45,000.Thebvalue is expected to decrease at a rate of 8.5% each year.What is the value of the boat expec

ted to be 3 years from now
Mathematics
1 answer:
Stels [109]3 years ago
3 0

Current value of the boat = $45000

Rate at which the value decrease = 8.5%

Value decreased after 1 year = \frac{8.5}{100}\times45000=3825

Hence, value becomes = 45000-3825=41175

Value decreased after 2nd year =

\frac{8.5}{100}\times41175=3499.875

Hence, value becomes = 41175-3499.875=37675.125

Value decreased after 3 year =

\frac{8.5}{100}\times37675.125=3202.385

Hence, value becomes = 37675.125-3202.385=34472.74

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

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