Question

Last question needed for mastery please help thank you!

Answer 1

A= P(1+r)^t, where P= initial value, r= interest rate in %, and t = number of years.
However, if there isa decrease in value, the formula becomes:

A= P(1-r)^t and in our case :

A = 30,000(1- 0.24)^t  OR A = 30,000(0.76)^t