A boat costs $19,200 and decreases in value by 12% per year. How much will the boat be worth after 5 years?

Question

anonymous · Answer

this is pretty much an is over of problem, with a little twist. first start by finding 12% of $19,200

anonymous · Answer

its 2304

anonymous · Answer

perfect! now subtract that from the origional value. that will give you the value after 1 year

anonymous · Answer

so i would subtract it 5 times?

anonymous · Answer

NO!!!! heres the "Twist"....when you subtract the $2304, youre going to get a NEW value for the boat. you then have to find 12% of the NEW value....then subtract the new percent of the value after one year to get the new value of the boat

anonymous · Answer

and repeat the process

anonymous · Answer

yes, repeat that for five years

anonymous · Answer

ok thank you so much my teacher doesnt understand the i need to be thought slow

anonymous · Answer

im glad i could help!