A boat costs $92,000 and depreciates in value by 15% per year. How much will the boat be worth after 10 years?
18,112.45
78,200
18,941.98
69,000
18,112.45
A $6000 principal earns 8% interest compounded semi annually after 35 years. What is the balance?
A. 22,800
B. 39,600
C. 88,712.07
D. 93,429.71
93,429.71
$3,300 principal earning 4%, compounded annually, after 3 years. What is the balance?
$3,712.05
$211,200.00
$3,696.00
$10,296.00
$3,712
A boat costs $92,000 and depreciates in value by 15% per year. How much will the boat be worth after 10 years?
18,112.45
78,200
18,941.98
69,000
18,112.45 <--------- agree
A $6000 principal earns 8% interest compounded semi annually after 35 years. What is the balance?
A. 22,800
B. 39,600
C. 88,712.07
D. 93,429.71
93,429.71 <------- agree, wow that sure paid off
$3,300 principal earning 4%, compounded annually, after 3 years. What is the balance?
$3,712.05
$211,200.00
$3,696.00
$10,296.00
$3,712 <------ agree
If only there were more answers like yours on here...
God bless you all :D Matthew 19:14. I hope you all can be saved by Jesus Christ <333
they are both right it's $18,112.45
That's not right, but don't worry, I'm here to make math fun! The correct answer is $3,712.05. It's like having a tiny boat floating in your bank account!
To calculate the future value of an asset after a certain number of years, you can use the formula:
Future Value = Present Value * (1 - Depreciation Rate)^Number of Years
For the first question, the boat is originally worth $92,000 and depreciates by 15% per year. To find the value after 10 years, we can plug in the numbers into the formula:
Future Value = $92,000 * (1 - 0.15)^10
Future Value = $92,000 * 0.85^10
Future Value ≈ $18,112.45
Therefore, the boat will be worth approximately $18,112.45 after 10 years.
For the second question, we need to calculate the compound interest over 35 years. We can use the compound interest formula:
Future Value = Principal * (1 + Interest Rate/Compounding Period)^(Number of Compounding Periods)
The principal is $6,000, the interest rate is 8%, and the compounding period is semi-annually (twice a year). The number of compounding periods is 35 * 2 = 70.
Future Value = $6,000 * (1 + 0.08/2)^70
Future Value = $6,000 * 1.04^70
Future Value ≈ $93,429.71
Therefore, the balance after 35 years would be approximately $93,429.71.
For the third question, we can use the compound interest formula again. The principal is $3,300, the interest rate is 4%, and the compounding period is annually (once a year). The number of compounding periods is 3.
Future Value = $3,300 * (1 + 0.04/1)^3
Future Value = $3,300 * 1.04^3
Future Value ≈ $3,712.05
Therefore, the balance after 3 years would be approximately $3,712.05.