algebra 2 question

Question

A boat costs $9,800 and decreases in value by 8% per year. How much will the boat be worth after 14 years?

Answer 1

Try using this: P * (1 - r)^t

where P is the principal (or starting amount), r is the rate of depreciation as a decimal, and t is number of years.

Note: you subtract r because the value is decreasing. If it was increasing you would add r.