Question

A boat that costs $8550 decreases in value by 12% per year. How much will the boat be worth after 3 years?

Answer 1

You have to take $8,550 times 0.12 (12%) to find out the number it is being decreased by.
8,550 x 0.12 = 1,026
And then, you have to subtract 1,026 from 8,550 three times for three years and your answer becomes 5,472.
$5,472