Stocks in a certain industry depreciated by 5.4% in the first 5 months of 1993. Assuming that this trend were to continue, how much (in dollars) would a $10,000 investment be worth in 5 years? [HINT: Five years corresponds to 12 five-month periods.] (Round your answer to the nearest cent.)

Stocks in a certain industry depreciated by 5.4% in the first 5 months of 1993. Assuming that this trend were to continue, how much (in dollars) would a $10,000 investment be worth in 5 years? [HINT: Five years corresponds to 12 five-month periods.] (Round your answer to the nearest cent.)

College Algebra

10th Edition

ISBN:9781337282291

Author:Ron Larson

Publisher:Ron Larson

Chapter5: Exponential And Logarithmic Functions

Section5.4: Exponential And Logarithmic Equations

Problem 11ECP: In Example 11, during which year did the sales reach $180 billion?

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Question

Stocks in a certain industry depreciated by 5.4% in the first 5 months of 1993. Assuming that this trend were to continue, how much (in dollars) would a $10,000 investment be worth in 5 years? [HINT: Five years corresponds to 12 five-month periods.] (Round your answer to the nearest cent.)

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