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Stock valued at $49.50 decreases in value by 12% each year. How much will the stock be worth in 5 years? Round your answer to the nearest penny 2 decimal places.  f(t)=49.50(1-.12)^t
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Stock valued at $49.50 decreases in value by 12% each year. How much will the stock be worth in 5 years? Round your answer to the nearest penny 2 decimal places. 

f(t)=49.50(1-.12)^t

User Josh Handel
by
5.4k points

1 Answer

7 votes

Answer:

Explanation:

f(5)=49.5(0.88)^5

f(5)=$26.12

User Catcon
by
4.9k points
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