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28 February, 20:15

7. A Honda Accord depreciates at 15% per year. Six year ago it was

purchased for $21,000. What is it worth now?

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Answers (1)
  1. 28 February, 20:26
    0
    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
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