2 years ago

Chao bought a boat for HK$160 000

Mathematics

1 answer:

Dennis_Churaev [7]2 years ago

7 0

Answer:

$141,557.76

Step-by-step explanation:

Chao bought a boat for 160,000

The value of the boat reduces by 4% every year

Therefore the value of the most at the end of three years can be calculated as follows

= 100%- 4%

= 96%

= 160,000 × 96/100^3

= 160,000 × 0.96^3

= 160,000 × 0.884736

= 141,557.76

Hence the price of the boat after 3 years is 141,557.76

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