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28 October, 07:40

A sailboat depreciates at 15% of its original value each year. If the sailboat was $9500 at its time of purchase, what is the value of the sailboat after 7 years?

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  1. 28 October, 07:56
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    After 7 years, the valu of the boat = 9500 (1 - 0.15) ^7 = 9500 (0.85) ^7 = $3,045.48
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