Maya purchased a boat for $18,340. Its value depreciated by 15% in the first year she owned it. What was her boat worth at the end of this first year?
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Detailed Explanation
To calculate the value of Maya's boat at the end of the first year after a 15% depreciation, we need to subtract 15% of the initial value from the initial value.
Depreciation amount = 15% of 18,340 = (15/100) × 18,340 = 2,751
The value of Maya's boat at the end of the first year is the initial value minus the depreciation amount:
Value at the end of the first year = 18,340 - 2,751 = 15,589
Therefore, Maya's boat was worth 15,589 at the end of the first year.
Depreciation amount = 15% of 18,340 = (15/100) × 18,340 = 2,751
The value of Maya's boat at the end of the first year is the initial value minus the depreciation amount:
Value at the end of the first year = 18,340 - 2,751 = 15,589
Therefore, Maya's boat was worth 15,589 at the end of the first year.
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