The value of a new stadium is $3.4 million and decreases at a rate of 2.39% yearly for for 10 years.
100-2.39
97.61
3.4*.9761
do that 10 times.
not the easiest answer in the book, but still...''
I suppose you want to know the value after 10 years.....this is given by :
3.4(1- .0239)^10 =
about $ 2,669,452
You use exponential functions for this, y = C * a^x,
where C = Starting value
a = change in %
and x = time(months,years etc.)
so the equation would be y = 3 400 000 * 0.9761^10
