SOLUTION: Stocks in the health industry depreciated by 5.7% in the first eight months of 1993. Assuming that this trend were to continue, how much would a $70,000 investment be worth in 8 ye

Question 370587: Stocks in the health industry depreciated by 5.7% in the first eight months of 1993. Assuming that this trend were to continue, how much would a $70,000 investment be worth in 8 years? (Hint: 8 years corresponds to 12 eight-month periods. Round your answer to the nearest cent.)
I got 44318.79 once and 25681.21 both wrong
70000(1-.057/12)^8*12
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
Got an idea, see if this works: Think in terms of 8-month periods. There are 12 8-month periods in 8 years. Hence compounding will look like this: . Get your fingers crossed! :D
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