Max bought a new speed boat that cost of $33,000. The boat depreciates approximately 18% of its value each year. Write an equation to model the decay value of the speed boat.

Question

Mathematics

Leonel York

12 July, 15:10

Max bought a new speed boat that cost of $33,000. The boat depreciates approximately 18% of its value each year. Write an equation to model the decay value of the speed boat.

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Maddox Knapp · Answer 1

Exponential growth/decay can be expressed as:

F=Ir^t, F=final amount, I=initial amount, r=rate, t=time, in this case:

F=33000 (1-0.18) ^t

F=33000 (0.82) ^t