The cost of the sail boat depreciates over time exponentially if the cost of the sail boat was 225,000 in 2020 and depreciates at a rate of 2.5% annually how much is the sail boat worth in 2028

The value of the boat will be 183,746.66

Step-by-step explanation:

The formula that should be used for exponencial problems is:

P = Po * (1+r)^t

Where P is the final value, Po is the inicial value, r is the rate and t is the amount of time.

In this problem, Po = 225000, r = -2.5% = -0.025 and t = 8 years

Then, we can calculate the value of the boat in 2028:

P = 225000 * (1 - 0.025)^8

P = 225000 * (0.975)^8 = 183,746.656

The value of the boat will be 183,746.66

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step-by-step explanation:

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