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There are 320 teams entered into a basketball tournament this weekend. After 3 rounds of games, there will only be 135 teams left to play for the championship. what is the percent rate of decrease for each round, given that the rate of decrease was constant?

 Jan 24, 2019
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FV = PV (1-i)^3       i = rate of decrease

135 = 320 (1-i)^3

 

135/320 = (1-i)^3       cube root both sides (or use log)

.75 = 1-i

 

i = .25 = 25%

 Jan 24, 2019

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