Answer :
Answer:
Amount after 9 year = 8,310 (Approx.)
Step-by-step explanation:
Given:
Amount invested = 12,000
Rate on decline = 4% per year = 0.04
Number of year = 9
Find:
Amount after 9 year
Computation:
A = P[1+r]ⁿ
A = 12,000[1-0.04]⁹
A = 12,000[0.96]⁹
A = 12,000[0.6925]
Amount after 9 year = 8,310 (Approx.)