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27 December, 12:54

A boat is worth $8502 new

it depreciates at a rate of 13% a year

intrest is compounded yearly

what is the value after 16 years? (round to nearest penny)

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  1. 27 December, 14:53
    0
    A=8,502 * (1-0.13) ^ (16)

    A=915.86
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