(07.01)A sailboat depreciates at 15% of its original value each year. If the sailboat was $9,500 at its time of purchase, what is the value of the sailboat after 7 years? (1 point) $3,045.48 $7,269.91 $8,075.00 $25,270.19
Question
Answer:
A(t)=I(1-r)^tA(t)=9500(1-0.15)^7
A(7)=9500(0.85)^7
A(7)=9500(0.3205770883)≈ $3,045.48
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