Question

The value of a boat is depreciating at a rate of 7% per year. In 2006, the boat was worth $17,300. Find the value of the boat in 2011. Enter the exponential decay function for this situation.
The exponential decay function is y = .

In 2011 the boat will be worth $ .

Answer 1

Answer:

Step-by-step explanation:

$V=Ar^t\\ \\ V=17300((100-7)/100)^t\\ V=17300(0.93)^{(y-2006)}\\ V(2011)=17300(0.93)^{(2012-2006)}=\ 11192.29$