Today, a boat is valued at $45,000. the value is expected to decrease at a rate of 8.5% each year. what is the value of the boat expected to be 3 years from now? a) 33,546.76 b) 35,475.65 c) 34,472.74 d) 34,364.67

Question:

Today, a boat is valued at $45,000. The  value is expected to decrease at a rate of  8.5% each year. What is the value of the boat expected to  be 3 years from now?

C.) 34,472.74

Hope this helps!

the answer is:

the correct option:

b.

to solve the problem, we need to remember how to operate to simplify exponential expressions using the logarithms.

we are given the equation:

then, using placing logarith with base 7 on both sides of the equation, we have:

so, rounding the obtained result to two decimal places (nearest hundreth), we have:

hence, we have that the correct option:

b.

have a nice day!