Answer: $2,982.92
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Work Shown:
A = P*(1+r)^t
A = 17000*(1+(-0.135))^12
A = 17000(1-0.135)^12
A = 17000(0.865)^12
A = 17000(0.17546612676) ... which is approximate
A = 2982.92415492
A = 2982.92 .... rounding to the nearest penny
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note: I used these values
- P = 17000 (initial value)
- r = -0.135 which represents a 13.5% decrease
- t = 12
