The equation that can be used to model the value of the speed boat is; y = 33,000 × (0.82)^t
How to write equation?
- cost of the boat = $33,000
- Rate of depreciation each year = 100% - 18%
= 82%
= 0.82
The equation;
y = A × (b)^t
where,
- y = new cost of boat
- A = initial cost
- b = rate of depreciation
- t = time
Substitute the known values into the equation
y = A × (b)^t
y = 33,000 × (0.82)^t
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