1. A boat is now worth birr 34000 and losses 12% of its value each year.what will it be worth after 5 year?
To calculate the value of the boat after 5 years, we need to calculate the 12% loss of its value each year for a total of 5 years.
Year 1: 34000 - (0.12 * 34000) = 34000 - 4080 = 29920 Birr
Year 2: 29920 - (0.12 * 29920) = 29920 - 3590.4 = 26329.6 Birr
Year 3: 26329.6 - (0.12 * 26329.6) = 26329.6 - 3159.55 = 23170.05 Birr
Year 4: 23170.05 - (0.12 * 23170.05) = 23170.05 - 2780.41 = 20389.64 Birr
Year 5: 20389.64 - (0.12 * 20389.64) = 20389.64 - 2446.75 = 17942.89 Birr
Therefore, the boat will be worth approximately 17,942.89 Birr after 5 years.