Question

You are going to sell your Samsung so you can get the new iPhone. You purchased your Samsung 2 years ago for $200. It's

value decreases at a rate of 2% each month. To the nearest dollar, how much is your Samsung worth now?

Answer 1

`\boxed{\ 123 \ dollars\ }`

Explanation:

its value decreases at a rate of 2% each month

in 2 years there are 12*2=24 months

so the Samsung worth
`200(0.98)^(24)\\`

it gives 123 rounded to the nearest dollar

Answer 2

$123

Explanation:

initial price= $200

value decrease rate= 2% = 0.98 times a month

time = 2 years

current value= $200*0.98²⁴= $123