Question 550448
Let {{{ V[0] = 30000 }}}, the initial value
Let {{{ V[t] }}} = value after {{{ t }}} years
given:
{{{ V[1] = V[0] - .01V[0] }}}
{{{ V[2] = V[0] - .01*( V[0] - .01*V[0] ) }}}
{{{ V[2] = V[0] - .01V[0] + .01^2*V[0] }}}
{{{ V[2] = V[1]  - .01*( V[0]  - .01V[0] ) }}}
{{{ V[2] = V[1] - .01V[1] }}}
{{{ V[2] = V[1]*( 1 - .01 ) }}}
{{{ V[2] = V[0]*( 1 - .01 )*( 1 - .01 ) }}}
{{{ V[2] = V[0]*( 1 - .01 )^2 }}}
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I can say
{{{ V[t] = V[0]*( 1 - .01 )^t }}}
{{{ V[t] = 30000*.99^t }}}