A jet ski costs $925 and depreciates by 15% each year. How much will

the jet ski be worth after 7 years?

Initial cost of the jet ski = $925

Percentage of depreciation per year = 15%

Number of years after which the cost of the jetski has to be determined = 7

Then

Depreciated Value = Initial cost (1 - percentage of depreciation) ^number of years

= 925 (1 - 15%) ^7

= 925 (1 - 15/100) ^7

= 925 (1 - 0.15) ^7

= 925 (0.85) ^7

= 925 * (0.85) ^7

= 925 * 0.3206

= 296.53 dollars

So the depreciated cost of the jet ski after 7 years will be $296.53