a company had a total debt of $320,000 in 1980. between 1980 and 1987 it was able to reduce its debt 15% each year. approximate the companys debt in 1987 to the nearest 1000

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a company had a total debt of $320,000 in 1980. between 1980 and 1987 it was able to reduce its debt 15% each year. approximate the companys debt in 1987 to the nearest 1000

Mathematics
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all right
begin with 320,000.
so in 1981 the debt would have been reduced by 15%....so 85% remains

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Other answers:

rite
let's say X0 represents the debt in 1980
X1 is debt in 1981. debt in 1981 = debt in 1980 reduced by 15% which is just 85% of debt in 1980 --> X1 = (X0)*.85
oh my you lost me
all right
so, what would be the debt in 1981?
i was just having variables stand in for the amounts
would it be the same as 1980?
the company reduces its debt by 15% each year
so minus 15% each year?
so it'd be less than the year before
right, -15% per year
but another way to consider this would be that 85% of the amount remains from before
37999.85
is that the answer?
as the final answer? or just what would be the total debt in 1981?
total debt in 1981
no, how did you get that?
i minused 15% the debt from 1980
what value did you obtain for 15% of 320,000?
319,999.85
15% of 320,00 would be: 320,000*.15 = 48,000
320,000 - 48,000 = debt in 1981
why multiply?
where did you get 48,000??
.15 * 320,000
you lost me. im sorry im horrible at math
you need to determine what 15% of the debt in 1980 is. the value if $320,000
are you familiar with percentages?
yes
cool, so in this case, you need to first determine what 15% of 320,000.
thats how you got 48,000?
yeah. 15% is actually the decimal .15
i know
yeah, cool, so you just multiply the decimal form with the debt
so debt in 1981 would be debt in 1980 - 15% of the debt in 1980
so it would be 15% minus 7 years?
not quite
so here, I want to type out a general plan for how to solve this then step through it with you
ugh. okay so i would minus .15 every year with each new debt?
right
debt in 1981 = debt in 1980 - (.15 * debt in 1980) debt in 1982 = debt in 1981 - (.15 * debt in 1981) debt in 1983 = debt in 1982 - (.15 * debt in 1982) debt in 1984 = debt in 1983 - (.15 * debt in 1983) debt in 1985 = debt in 1984 - (.15 * debt in 1984) debt in 1986 = debt in 1985 - (.15 * debt in 1985) debt in 1987 = debt in 1986 - (.15 * debt in 1986)
or debt in 1981 = debt in 1980 * .85
okay i dont want to do it that way the .85
its confusing
all right, that would give you less work however...less multiplying and subtracting ;)
but that is the general set up
i rather the long way so i dont get lost in the middle,
sure, no problem
yeah once you get it that way, i bet you can find the simpler way
so we did 1981?
do you think you can try to solve it?
yes
cool, i'll check it for you if you'd like
oh please give me 10min.
sure
okay i lost myself.
heh, just concentrate on find the debt of one year at a time
so how far did you get?
ok. we can step through this. what is the debt in 1980: 320,000. what is the debt in 1981?
i did and it keeps going down to 47999 and only going down after the decimal
we said 480000 before
we said that 48,000 was 15% of 320,000. 48,000 would be the amount that the debt was reduced BY. therefore. 320,000 - 48,000 is the debt in 1981
that would be 272000
correct
ok, so that is debt in 1981. we have debt in 1980 was 320,000. debt in 1981 was 272,000. now, what would be the debt in 1982?
no
heh, what's up?
you wold minus .15 from 272000??
to determine the debt in 1982. we would take the debt from 1981 (which we found is 272,000 ). so, i think what you're saying is right. find 15% of 272,000. then subtract that amount from 272,000 to find the debt in 1982
thats what i meant
cool, then you got it
i got 271999.85
so debt in 1982 is 272,000 - (15% * 272,000)...drum roll, which is?
you simply subtracted .15 from 272,000
you need to multiply then subtract
ugh okay
when i multiply i get 40800
ok. now subtract that from 272,000
272,000 - 40,800 is the debt in 1982
231200
ok so now for 1983
multiply 231200 * .15
nice then subtract
196520
solid, and repeat for 1984...
seems like you got It, right?
1984 is 225998
yes
hey, sorry, did you get the rest?

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