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Amy makes an initial investment of 5000$. The investment losses 13.5% each year. Find the amount Amy has at the end of 8 years

Amy makes an initial investment of 5000$. The investment losses 13.5% each year. Find the amount Amy has at the end of 8 years
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Amy makes an initial investment of 5000$. The investment losses 13.5% each year. Find the amount Amy has at the end of 8 years

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User Hanky
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1 Answer

6 votes

Answer:

156.71$

Explanation:


A=P(1-r \%)^ t\\=500(1-13.5 \%)^8\\=500(0.865)^8\\\approx 156.71

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User Yitzi
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