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?
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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