Use depreciation formula:
Future value = Present value (1-rate)^(number of years)
rate is in % per annum = 0.15
number of years = 10
Present value = 92000
A boat costs $92,000 and depreciates in value by 15% per year. How much will the boat be worth after 10 years?
18,112.45
78,200
18,941.98
69,000
Is the answer the first one? Could somebody write down the steps for me please? Pleas help asap! Thanks
1 answer
1 answer