Answer:
$5,415.49
Step-by-step explanation:
Cost of the boat = $16,500
Decrease in value per year = 13%
Worth of the boat in 8 years = ?
Remaining value = 100% - 13%
= 87%
Worth of the boat in 8 years = cost of the boat × remaining value^8
= $16,500 × 87%^8
= $16,500 × 87/100^8
= $16,500 × 0.87^8
= $16,500 × 0.3282116715437121
= $5,415.49
The worth of the boat after 8 years = $5,415.49
