Design Math Quiz QUESTION 2 of 10: The cost of spandex is predicted to decrease by 5% per year for the next 3 years. If the current cost is $20 yard, how
much will the cost of spandex be in 3 years?
a) $14.58
b) $16.15
c) $16.95
d) $17.15

$16.95

We will solve this question by applying the principle of compound interest. The formula is given as A =

Where A is the expected compounded interest

P is the initial money

r is the rate of interest

n is the length of period in concern

if we proceed to solve, we have

A =

A =

A =

A = 20 * 1.1576

A = 23.15

23.152 - 20 = 3.15

interest is 3.152, and the question says that the price was decreased, so there

20 - 3.15

$16.85

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mk./km: lm

step-by-step explanation:

,mlmlm

; mk

lk