## 7. A Honda Accord depreciates at 15% per year. Six year ago it was purchased for $21,000. What is it worth now?

Question

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## Answers ( )

Answer:$7920.14

Step-by-step explanation:21000(0.85)^6

$7920.14

Answer:7920.14

Step-by-step explanation:The formula is y = a (1-r)^t

21000 (0.85)^6

0.85^6 = 0.37714951562

21000 (0.37714951562) = 7920.14