Question
A bow cost $11,850 and increases in value by 10% per year. How much will the boat be worth after eight years?
Answers
Answered by
GPT 3.5
To calculate the value of the bow after eight years, we need to multiply the current value by 1 plus the annual increase rate for eight times.
The annual increase rate is 10%, which is equivalent to 0.1.
We can calculate the value of the bow after eight years by multiplying the current value by (1 + 0.1)^8
The value after eight years is $11,850 * (1 + 0.1)^8 = $<<11850*(1+0.1)^8=25634.613447999997>>25,634.61. Answer: \boxed{25,634}.
The annual increase rate is 10%, which is equivalent to 0.1.
We can calculate the value of the bow after eight years by multiplying the current value by (1 + 0.1)^8
The value after eight years is $11,850 * (1 + 0.1)^8 = $<<11850*(1+0.1)^8=25634.613447999997>>25,634.61. Answer: \boxed{25,634}.
There are no human answers yet. A form for humans to post answers is coming very soon!