SOLUTION: An investment decreases by 50% over an 8-year period. At what effective annual percent rate does it decrease?

SOLUTION: An investment decreases by 50% over an 8-year period. At what effective annual percent rate does it decrease?

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Question 1175075: An investment decreases by 50% over an 8-year period.
At what effective annual percent rate does it decrease?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
This is (1-x)^8=0.50
Can do it by logs or by the 8th root of both sides, since we have calculators.
0.50^(1/8)=0.9170
1-x=0.9170
x=0.0830 or 8.3% annual rate of decrease.
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