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21 December, 16:57

if the national economy shrank at an annual rate of 6% per year for 3 consecutive years, then the economy shrank by 18% over the three year period. The economy shrank by what per6 over the three year period?

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  1. 21 December, 18:43
    0
    You want to find x such that

    ... 1 - x = (1 - 6%) ³

    ... x = 1 - (0.94) ³ = 1 - 0.830584 = 0.169416

    ... x ≈ 16.9%

    The economy shrank by about 16.9% over the three-year period.
  2. 21 December, 20:31
    0
    The answer would be 18x 6 which would result in 108. Answer is 108/6

    Best of luck!
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