Question

A four-wheeler depreciates 8.5% per year. If the boat is purchased for $3250, what is the equation of the exponential equation? How much will the boat be worth in 4 years?

Answer 1

100%-8.5%=91.5%

91.5%=0.915 as a decimal

`$3250xx0.915^n` where `n` is the number of years

`$3250xx0.915^4=2278.073527`

`$2278.07`