If 40 is decreased by 60%, what is the new amount?
2 answers:
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Answer:
$295.01
Step-by-step explanation:
Using the compounding continuously formula, we are looking for A. We have that P = 190; r = .11 (always use the decimal form of the rate!); and t = 4. Filling in we have:
Simplifying that multiplication:
.
On your calculator, raise e to the .44 power to get
A = 190(1.552707219) and
A = $295.01