You invested $7,500 in a stock whose value is depreciating by 9% per year, compounded annually. Assuming that this trend continues, how much will your stock be worth after 2 years? Round your answer to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.
You invested $7,500 in a stock whose value is depreciating by 9% per year, compounded annually. Assuming that this trend continues, how much will your stock be worth after 2 years? Round your answer to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.
Chapter6: Exponential And Logarithmic Functions
Section6.1: Exponential Functions
Problem 67SE: Alyssa opened a retirement account with 7.25 APRin the year 2000. Her initial deposit was 13,500....
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You invested $7,500 in a stock whose value is depreciating by 9% per year, compounded annually. Assuming that this trend continues, how much will your stock be worth after 2 years? Round your answer to two decimal places if rounding is necessary. There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.
Transcribed Image Text:You invested $7,500 in a stock whose value is depreciating by 9% per year, compounded annually. Assuming that this trend
continues, how much will your stock be worth after 2 years? Round your answer to two decimal places if rounding is necessary.
There is a $ sign already written next to the answer box, so do not type a $ sign in your answer.
$
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