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OpenStudy (anonymous):
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.
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OpenStudy (dumbcow):
B = P(1-i)^n B = 30,000(.95)^4 B = 24,435.19
OpenStudy (anonymous):
That's the formula! Thank you so much (:
OpenStudy (dumbcow):
your welcome
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