Answer:
Total number of year pass [n] = 22 year (Approx)
Step-by-step explanation:
Given:
Beginning price of cottage [P] = $25,000
Price reduce every year [r] = 10% = 0.1
Final price [A] = $2,500
Find:
Total number of year pass [n]
Computation:
A = P[1-r]ⁿ
2,500 = 25,000[1-0.1]ⁿ
0.1 = [0.9]ⁿ
Total number of year pass [n] = 22 year (Approx)
