The boat costs $8,350 and decreases in value by 12% per year be worth after 5 years $4406.56.
We have given that,
A boat costs $8,350 and decreases in value by 12% per year.
12% = 0.12
We have to determine what the boat be worth after 5 years
What is the price after 5 years?
Price after 5 years = $8350(1 - 0.12)⁵
Price after 5 years = $4406.56
Therefore the price after five years is 4406.56
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