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NISA [10]
2 years ago
12

What is the value of a $1,000 investment that loses 5% each year for 8 years?

Business
2 answers:
boyakko [2]2 years ago
4 0

600

Explanation:

Principal amount = 1000

time = 8 years

rate of losing = 0.05

A = 1000 (1 - 0.05 (8))

A = 1000 ( 1 - 0.4)

A = 1000 (0.6)

A = 600

kramer2 years ago
3 0

Answer:

$663.42

Explanation:

1000(0.95)^8

= $663.42

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