George invested $18,500 five years ago and unfortunately the investment has been losing 6% of its value each year. What is the current value of his investment? Round to the nearest cent.

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asked Jun 16, 2022 30.0k views

1 vote

George invested $18,500 five years ago and unfortunately the investment has been losing 6% of its value each year. What is the current value of his investment? Round to the nearest cent.

Mathematics
high-school

Bertrand asked

by Bertrand

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4 votes

Answer:

$13,577.22

Explanation:

Multiply 18,500 by 0.94 for each year

Soydan answered Jun 20, 2022

by Soydan

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