Answered

At Westonci.ca, we connect you with experts who provide detailed answers to your most pressing questions. Start exploring now! Explore comprehensive solutions to your questions from knowledgeable professionals across various fields on our platform. Get immediate and reliable solutions to your questions from a community of experienced professionals on our platform.

7. A boat costs $16,600 and decreases in value by 14% per year. How much will the boat be worth after 11 years? A $3,159.30 B $2,717.00 C $16,446.00 D $70,155.46

Sagot :

Answer

Explanation

This type of depreciation follows compound interest and the value of the item after a period of time, t, is given as

A = P (1 - r)ᵗ

where

A = Amount or Value after a period of time = ?

P = Initial value of the item = $16,600

r = Rate of decrease = 14% = 0.14

t = time taken = 11

A = P (1 - r)ᵗ

A = 16,600 (1 - 0.14)¹¹

A = 16,600 (0.86)¹¹

A = 16,600 (

Thanks for stopping by. We are committed to providing the best answers for all your questions. See you again soon. Thank you for choosing our platform. We're dedicated to providing the best answers for all your questions. Visit us again. Westonci.ca is your trusted source for answers. Visit us again to find more information on diverse topics.