
Sammy G. answered 08/15/19
Chemistry, Math, and Chemical Engineering Tutor Here for Your Success
6,460
Emerson B.
asked 08/15/19Sammy G. answered 08/15/19
Chemistry, Math, and Chemical Engineering Tutor Here for Your Success
6,460
The quick way to do this is to decrease by 4% each year or remember that 96% is retained each year , So
2010 8500
2011 .96(8500) = 8160
2012 .96(8160) = 7833.6
2013 .96(7833.6) = 7520.26
2014 .96(7520.26) = 7219.45
2015 .96(7219.44) = 6930.67
2016 .96(6930.67) = 6653.22
or this is just .966(8500) = 6653.44
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