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marcus purchased a sail boat for $56,900. he anticipates each year the boat will decrease in value by 8.1% from the previous year.


enter numbers in the boxes to write an exponential function that models the value in dollars of the boat x years after Marcus's purchase.

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Answer:

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Step-by-step explanation:

Giving the following information:

Purchase price= $56,900

Decrease in value= 8.1% per year from the previous year

To calculate the value of the sailboat after x number of years, we need to use the following formula:

Future value= purchase price / (1 + decrease in value)^x

For 10 years:

FV= 56,900 / (1.081^10)

FV= $26,112.91

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