Question

a boat is purchased for 24,000 and depreciates at a rate of 13.5 each year. What will be the approximate worth of the boat in 5 years

Answer 1

Answer:

Step-by-step explanation:

price after 5 years

$=24000(1-\frac{13.5}{100} )^5\\=24000(1-0.135)^5\\=24000(0.865)^5\\\approx 11622.29$

i assumed 13.5%