Question

Rohiza sold her stamp collection and every year thereafter donates 30% of the remainder of this money to charity. If her stamp collection sold for $6,000, how much of the initial amount will she have left after t years?

Answer 1

To find out how much of the initial amount Rohiza will have left after t years, you can use the formula Amount remaining = $6,000 * (0.7)^t.

Step-by-step explanation:

To determine how much of the initial amount Rohiza will have left after t years, we need to calculate the remaining amount after each year's donation. Starting with the initial amount of $6,000, after the first year, Rohiza will have 70% of $6,000 left. In general, after each year, Rohiza will have 70% of the remaining amount from the previous year. Therefore, the amount remaining after t years can be calculated using the formula:

Amount remaining = $6,000 * (0.7)^t

For example, if t = 3 years, the amount remaining would be:

Amount remaining = $6,000 * (0.7)^3 = $6,000 * 0.343 = $2,058