Question 1071612
<pre>
It's a geometric sequence with first term = a<sub>1</sub>=27200, and since
a decrease of 2% each year means that each year it is only 98% of
what it was the year before.

So:
 
the 2nd yesr it'll be worth (0.98)(27200) = $26656.00
the 3rd yesr it'll be worth (0.98)<sup>2</sup>($27200) = $26656.00
the 4th yesr it'll be worth (0.98)<sup>3</sup>($27200) = $26122.88
...

So

the nth yesr it'll be worth (0.98)<sup>n-1</sup>($27200)

a<sub>1</sub> = the first term
a<sub>2</sub> = the second term
...
a<sub>n</sub> = the nth term

{{{a[n]=a[1]r^(n-1)}}}

You want the 10th term.

{{{a[10]=27200*0.98^(10-1)}}}

{{{a[10]=27200*0.98^9}}}

{{{a[10]=22677.93913}}}

Round to $22678

Edwin</pre>