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29 August, 18:09

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

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  1. 29 August, 20:17
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    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
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