The answer I believe would be -6
Answer:
$7,544.58
Step-by-step explanation:
We will use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
<em />
First, change 3.3% into its decimal form:
3.3% -> 
-> 0.033
Since the interest is compounded monthly, we will use 12 for n. Lets plug in the values now:
The balance after 1 year will be $7,544.58
This is an exponential growth/decay problem. It has a formula, and it doesn't matter which you have...the formula is the same for both, except for the fact that you're rate is decreasing instead of increasing so you will use a negative rate. The formula is this: A = Pe^rt, where A is the ending amount, P is the beginning amount, e is euler's number, r is the rate at which something is growing or dying, and t is the time in years. Our particular formula will look like this: A = 2280e^(-.30*3), Notice we have a negative number in for the rate (and of course it's expressed as a decimal!). First simplify the exponents: -.30*3 = -.9. On your calculator you have a 2nd button and a LN button. When you hit 2nd-->LN you have "e^( " on your display. Enter in -.9 and hit enter. That should give you a display of .4065695. Now multiply that by 2280 to get 926.98, the value of the computer after it depreciates for 3 years at a rate of 30% per year.
