Problema Solution
a boat costs $11,850 and decreases in value by 10% per year. How much will the boat be worth after 8 years?
Answer provided by our tutors
present cost=$11850
interest per year=10%
future value = ?
Fv=Pv(1+i)t
Fv= 11850(1+10%)8
Fv= $25401.527