What is 702/0.06pls help
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The worth of boat after 11 years is $ 3159.3013
<em><u>Solution:</u></em>
Given that,
Boat costs $16600 and decreased in value by 14% per year
To find: Worth of boat after 11 years
<em><u>The formula for decreasing function is given as:</u></em>
Where,
y is the value after "t" years
t is the number of years
a is the initial value
r is decreasing rate in decimal
<em><u>From given,</u></em>
a = 16600
t = 11
<em><u>Substituting the values we get,</u></em>
Thus the worth of boat after 11 years is $ 3159.3013