carsonee4131 carsonee4131
  • 26-01-2021
  • Mathematics
contestada

If the value of a stock depreciates at 3% a year, what will a $100 investment be worth in 20 years?

Respuesta :

Parrain
Parrain Parrain
  • 30-01-2021

Answer: $54.38

Step-by-step explanation:

The amount of stock purchased was $100. This stock depreciates by 3% annually which means that it loses 3% of its value every year.

To find the value in 20 years, you can use the compound interest formula:

= Initial value * ( 1 - rate) ^ no. of years

= 100 * ( 1 - 3%)²⁰

= $54.38

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Cringe2Win Cringe2Win
  • 28-04-2022

Answer: 54.38

Step-by-step explanation:

got it right on an assignment

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