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OpenStudy (anonymous):
A boat costs $18,550 and decreases in value by 9% per year. How much will the boat be worth after 8 years?
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OpenStudy (johnweldon1993):
Value = Cost(initially)(1-r)^t \[V = C(1-r)^t\] You have 'C' = 18550 you have 'r' = .09 and you have 't' = 8 years plug those in and solve for 'V'
OpenStudy (anonymous):
thanks man i appreciate it !
OpenStudy (johnweldon1993):
no problem!
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