Question

Max was browsing Amazon on his phone and decided to purchase the newest Adidas shoes. He bought

them for $280. Unfortunately, a newer version was released a week later and his shoes began depreciating
in value rapidly. Every week the value of the shoes decreases by 8%. how much will the shoes be worth
in 2 months (8 weeks)?

Answer 1

$143.70

Explanation:

The multiplier of value each week is (1 -8%) = 0.92. After 8 weeks, the original value will have been multiplied by 0.92^8.

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The value of the shoes after 8 weeks is ...

$280(0.92^8) ≈ $143.70