Justsendit
contestada

(07.01)
A sailboat depreciates at 15% of its original value each year. If the sailboat was $9,500 at its time of purchase, what is the value of the sailboat after 7 years? (1 point)


$3,045.48
$7,269.91
$8,075.00
$25,270.19

Respuesta :

coolgirl147
A(t)=I(1-r)^t
A(t)=9500(1-0.15)^7
A(7)=9500(0.85)^7
A(7)=9500(0.3205770883)≈ $3,045.48

Value of the sailboat after 7 years is 3,045.48 (Approx.)

Given that;

Sailboat depreciation rate = 15%

Sailboat value = $9,500

Number of year = 7 year

Find:

Value of the sailboat after 7 years

Computation:

A = P[1-d]ⁿ

Value of the sailboat after 7 years = 9,500[1 - 0.15]⁷

Value of the sailboat after 7 years = 9,500[0.85]⁷

Value of the sailboat after 7 years = 3,045.48 (Approx.)

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