Question

mommy raised $30,000 for a sports fund. No more money will be placed in the fund. Each year the fund will decrease by 5%. Determine the amount of money, to the nearest cent, that will be left in the sports fund after 4 years.

Answer 1

B = P(1-i)^n
B = 30,000(.95)^4
B = 24,435.19

Answer 2

That's the formula! Thank you so much (:

Answer 3

your welcome