Question

The price of gold was $400 per 8 grams in the month of June 2000. It lost its value at a rate of 6% per month. Find the cost of the 8 grams gold in the month of December 2000.

Answer 1

Answer:

Step-by-step explanation:

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Answer 2

here depriciation rate is 6percent per month.

time is 4 months

ptincipal anount ( original value ) is $ 400

Cost of gold = p ( 1 - r /100 ) ^ 4 = 400 ( 1 - 6/100) ^4 = 400 ( 47 / 50 ) ^4 = 400 × 47 × 47 × 47 ×47 / 50 × 50 × 50 × 50 = $ 312.29