The value of a new boat purchased is $46,000. the value of the boat is estimated to decrease by 19% each year. allow x to represent the years since the boat is purchased and y to represent the value of the boat in year x. write an equation which can be used to determine of the value of the boat in x years?

y = $46,000 × (1 - 0.19)ˣ

Explanation:

Data provided in the question:

Value of the new boat = $46,000

Decrease in the value of the boat each year = 19%

x = Number of year

y = value of boat in year x

Now,

value of the boat in year x will be,

y = Value of the new boat × ( 1 - Decrease in the value of the boat )ˣ

or

y = $46,000 × (1 - 0.19)ˣ

 Required reserve=$36  million

Explanation:

In a fractional banking system, banks are required to maintain  a proportion of  their total deposit for precautionary reasons by banking authority.

The proportion is known as the required reserve ratio and is always given as a percentage of the total deposit.

The required reserve = required reserve (%) × Total deposit

                                  = 12%× 300 million

                                   =36  million

 Required reserve=$36  million