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The compact disc format has been declining in popularity, and one music executive has predicted that CD sales will decrease by 15% per year. If the executive's company sold 29,000,000 CDs this year, how many will the company sell 7 years from now?

 Apr 30, 2017
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The compact disc format has been declining in popularity, and one music executive has predicted that CD sales will decrease by 15% per year. If the executive's company sold 29,000,000 CDs this year, how many will the company sell 7 years from now?

 

\(FV=29000000(1-0.15)^7\)

 

29000000*(1-0.15)^7 = $9 296 736 in the year

 Apr 30, 2017

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