jennaloves2019
jennaloves2019 jennaloves2019
  • 15-02-2019
  • Mathematics
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A boat costs $17,100 and decreases in value by 13% per year. How much will the boat be worth
after 12 years?
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jdoe0001 jdoe0001
  • 15-02-2019

[tex]\bf \qquad \textit{Amount for Exponential Decay} \\\\ A=P(1 - r)^t\qquad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{initial amount}\dotfill &17100\\ r=rate\to 13\%\to \frac{13}{100}\dotfill &0.13\\ t=\textit{elapsed time}\dotfill &12\\ \end{cases} \\\\\\ A=17100(1-0.13)^{12}\implies A=17100(0.87)^{12}\implies A\approx 3215.34[/tex]

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