A jet ski costs $3250 and decreases in value by 15% per year.  How much will the jet ski  be worth after 6 years?

Question

A jet ski costs $3250 and decreases in value by 15% per year.  How much will the jet ski  be worth after 6 years?
🧐 Not the exact question you are looking for?Go ask a question

Solution 1

Step 1: Understand the problem. The jet ski's value decreases by 15% each year. We need to find out its value after 6 years.

Step 2: Identify the initial value of the jet ski, which is $3250.

Step 3: Understand that a 15% decrease means the jet ski retains 85% of its value each year. In decimal fo Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob

Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

This problem has been solved

Similar Questions

A jet ski costs $3250 and decreases in value by 15% per year.  How much will the jet ski  be worth after 6 years?

A motorcycle costs $7,250. If it depreciates by 12% per year, how much will it be worth after one year?

Emma pays $2,600 for a washer/dryer combo. Each year, the appliance loses 15% of its resale value. How much will it be worth in 4 years?

A motorcycle cost $7,250. If it depreciates by 12% per year, how much will it be worth after one year?

Ratio of principal and the amount after 2 years is 20: 30. Find the rate of simple interest per year.25 %20 %15 %12.5 %

1/3