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

Algebra ->  Customizable Word Problem Solvers  -> Mixtures -> SOLUTION: If a wage of ​$9.89 decreases by 5​% each​ year, what is the new wage after 4 ​years?      Log On

Ad: Over 600 Algebra Word Problems at edhelper.com


    

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) About Me  (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