Aboat cost $8,350 and decreases in value by 12% per year. how much will thr boat be worth in 5 years

Your answer would be $4,406.56

Explanation:

In order to find the answer for this problem, we would need to decrease the valuer of the boat 5 times (that would be equivalent to 5 years)

We would get the value of the boat (cost) of 8,350 and multiply it by .12, then subtract the percentage from the value. That's the long way, but I have a shorter way for you.

We would be using this equation:

p(1 - x)^y

p = Principal or starting value

x = Percentage

y = Amount of years

Now, we plug in the given information from the question into the equation. Your equation should look like this:

8,350(1-0.12)^5

Now you solve.

You could plug it in to a calculator to get you a quicker and more accurate answer.

When you're done solving, you should get $4,406.56

The boat would be worth $4,406.56 in 5 years after a 12% decrease each year.

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