Posted by Anonymous on .
Sports store is having a closing down sale, all stock has to be sold. each day an article remains unsold, the price is discounted by 4% of the previous days price. This discounting continues until the article is sold. The table shows the price of a mountain bike during the first 5 days of the sale:
Day 1 = 750
Day 2 = 720
Day 3 = 691.20
Day 4 = 663.55
Day 5 = 637.01
A) State the growth factor
720/750 = 0.96
B) Calculate the cost of the mountain bike on the 10th day of the sale.
T10 = 750(0.96)^10-1
750(0.69253) = 519.40
C) Write an expression for the cost of the mountain bike on the nth day of the sale:
D) The mountain bike was eventually sold for $359.70. On which day of the sale was it sold?
I don't get how to solve this one.