answer correctly please

Eight years ago, Rudi thought that he was making a sound investment by buying $1000 worth of Pro Sports Management stock. Unfortunately, his investment depreciated steadily, losing 15% of its value each year. How much is the stock worth now? Justify your answer by answering the questions below.

1. List all needed information from the problem.

2. Restate the question in your own words, what is it asking you to find (not just x)?

3. What formulas and/or operations do you need to solve this problem? (Is it on the EOC formula sheet?)

4. Explain what your variables and values are (if necessary)

5. Work out the problems, using numbers and operations and explaining (in words) all steps (include the words "why" and "because", properties)

6. Write your final answer in a sentence, restating the question.

7. Why does your answer make sense? This is a good step to show how you checked your work

7. [tex]\displaystyle /text{The answer makes sense because since the depreciation rate is 15%, we know that we need to use the "exponential decay" formula.}[/tex]

6. [tex]\displaystyle /text{After a depreciation rate of 15% for the past 8 years, the stock is now worth approximately $272,49.}[/tex]

5. [tex]\displaystyle 1000[0,85]^8 = 272,490525 ≈ \$272,49[/tex]

4. [tex]\displaystyle 1000 = a \\ -15\% + 100\% = 1 - r; 85\% = 1 - r \\ 8\:years = time\:[t][/tex]

3. [tex]\displaystyle /text{We need to use the "Exponential Decay" formula} - f(t) = a[1 - r]^t, where a > 0[/tex]

2. [tex]\displaystyle /text{How much is the stock worth after a depreciation rate of 15% per year?}[/tex]

1. [tex]\displaystyle /text{initial amount: $1000, a depreciation rate of 15%, and a time period of 8 years}[/tex]

I am joyous to assist you anytime.