• anonymous
In a recent stock market downturn, the value of a $5,000 stock is decreasing at 2.3% per month. This situation can be modeled by the equation A(t) = 5,000(0.977)12t, where A(t) is the final amount and t is time in years. Assuming the trend continues, what is the equivalent annual devaluation rate of this stock (rounded to the nearest tenth of a percent) and what is it worth (rounded to the nearest ten dollars) after 1 year? 24.4% and$3,780.00 75.6% and $3,780.00 27.6% and$1,380.00 72.4% and \$3,620.00
Mathematics
• Stacey Warren - Expert brainly.com
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SOLVED
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