A law firm is going to designate associates and partners to a big new case. The daily rate charged to the client for each associ
ate is $800 and the daily rate for each partner is $1500. How much would the law firm charge the client daily if 9 associates and 4 partners were assigned to the case? How much would the law firm charge the client daily if aa associates and pp partners were assigned to the case?
Use the equation 55,000(.96)^9. Start with the initial number in this case it is 55,000 then multiply by the percentage that remains (100% - 4% = 96%) and then put it to the ninth power because that is how many years the problem is asking for.