Carl invests x dollar in stocks. 3 years later he checks in on his stocks and they have dropped by 50%. What yearly percentage drop has his stock gone down?
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Carl invests x dollar in stocks.
3 years later he checks in on his stocks and they have dropped by 50%.
What yearly percentage drop has his stock gone down?
Call x 100. You can use a different number if you want to.
Year Amt at 1st of yr Times 0.7937 Amt at end of year
1st 100.00 79.37 79.37
2nd 79.37 63.00 63.00
3rd 63.00 50.00 50.00
Yearly loss = 79.37%
How on earth did I ever come up with that number?
I used my calculator to find the cube root of one-half.
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