Answer:
Step-by-step explanation:
Growth:
You put 100 dollars into a fund which accumulates at a rate of 5% per annum. How much will be in the fund at the end of 10 years (to the nearest cent)?
answer: 100(1.05)¹⁰=162.89
Decay:
You buy a car for 10,000, and each year its value decreases by 5%. What is the car worth 10 years from now (to the nearest cent)?
answer: 10000(.95)¹⁰=5987.37
