SOLUTION: If a wage of $9.89 decreases by 5% each year, what is the new wage after 4 years?

SOLUTION: If a wage of $9.89 decreases by 5% each year, what is the new wage after 4 years?

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Question 1054125: If a wage of $9.89 decreases by 5% each year, what is the new wage after 4 years?
Answer by Boreal(15235) (Show Source): You can put this solution on YOUR website!
9.89*(1-(.95)^4)=9.89*0.8145
$8.06, rounding at end.
Check
1 year
9.89*.95=9.40
*.95=8.93 year 2
*.95=8.48 year 3
*.95=8.06 year 4
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