Depreciation
Chao bought a boat for $\mathrm{HK} \$ 160000$
The value of the boat depreciates by $4 \%$ each year.
(a) Work out the value of the boat at the end of 3 years. Give your answer correct to the nearest HKS.

Answer

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Answer

Round the final value to the nearest HKS: $\boxed{141558}$

Steps

Step 1 ：Calculate the final value of the boat using the formula: $Final Value = Initial Value * (1 - Depreciation Rate)^{Number of Years}$

Step 2 ：Plug in the values: $Final Value = 160000 * (1 - 0.04)^3$

Step 3 ：Calculate the final value: $Final Value = 160000 * (0.96)^3$

Step 4 ：Find the final value: $Final Value = 141557.76$

Step 5 ：Round the final value to the nearest HKS: $\boxed{141558}$