A boat costs $19,550 and decreases in value by 9% per year. How much will the boat be worth after 14 years?
$8537.20
Since it loses 9% value, we subtract .09 from '1' since '1' is %100 in this situation. This also means 0.91 is 91%
Now that we have the depreciation per year, we need to take it to the power of 'x' years. Since it is 9 years, we take it by the ninth power. This is the following equation.
$${\mathtt{19\,950}}{\mathtt{\,\times\,}}{\left({\mathtt{0.91}}\right)}^{{\mathtt{9}}} = {\mathtt{8\,537.199\: \!512\: \!589\: \!278\: \!799\: \!4}}$$
$8537.20
Since it loses 9% value, we subtract .09 from '1' since '1' is %100 in this situation. This also means 0.91 is 91%
Now that we have the depreciation per year, we need to take it to the power of 'x' years. Since it is 9 years, we take it by the ninth power. This is the following equation.
$${\mathtt{19\,950}}{\mathtt{\,\times\,}}{\left({\mathtt{0.91}}\right)}^{{\mathtt{9}}} = {\mathtt{8\,537.199\: \!512\: \!589\: \!278\: \!799\: \!4}}$$
