Suppose you make an investment of $1000 that you are not allowed to cash in for 10 years. Unfortunately, the value of the investment decreases by 10% per year. How much money will be left after the end of a 10-year term? (Round your answer to the nearest cent.)

Intermediate Algebra
10th Edition
ISBN:9781285195728
Author:Jerome E. Kaufmann, Karen L. Schwitters
Publisher:Jerome E. Kaufmann, Karen L. Schwitters
Chapter11: Exponential And Logarithmic Functions
Section11.2: Applications Of Exponential Functions
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Suppose you make an investment of $1000 that you are not allowed to cash in for 10 years. Unfortunately, the value of the investment decreases by 10% per year.

How much money will be left after the end of a 10-year term? (Round your answer to the nearest cent.)

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