Answer:
The value of the boat will be 183,746.66
Step-by-step explanation:
The formula that should be used for exponencial problems is:
P = Po * (1+r)^t
Where P is the final value, Po is the inicial value, r is the rate and t is the amount of time.
In this problem, Po = 225000, r = -2.5% = -0.025 and t = 8 years
Then, we can calculate the value of the boat in 2028:
P = 225000 * (1 - 0.025)^8
P = 225000 * (0.975)^8 = 183,746.656
The value of the boat will be 183,746.66
