Stocks in a certain industry depreciated by 5.4% in the first 8 months of 1993. Assuming that this trend were to continue, how much (in dollars) would a $30,000 investment be worth in 8 years?[HINT: Eight years corresponds to 12 eight-month periods.] (Round your answer to the nearest cent.)15848.60 X

We use the formula P(1-R/100)T =A Where A is investment worth after 8 years P=amount T =time R…

Answered: Stocks in a certain industry…

Advanced Engineering Mathematics

10th Edition

ISBN:9780470458365

Author:Erwin Kreyszig

Publisher:Erwin Kreyszig

Chapter2: Second-order Linear Odes

Section: Chapter Questions

Problem 1RQ

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Stocks in a certain industry depreciated by 5.4% in the first 8 months of 1993. Assuming that this trend were to continue, how much (in dollars) would a $30,000 investment be wort [HINT: Eight years corresponds to 12 eight-month periods.] (Round your answer to the nearest cent.) +15949 60