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local store going out of business. Owner decreases all prices by 5% every day until all items are sold.
Customer wants dress priced at $2500.

How long does she have to wait for repeated discounts to reduce price of dress to less than $700?

  • math -

    Let d be the number of days of required discounts.

    2500*(0.95)^d = 700
    0.95^d = 0.28
    d = log.28/log*.95 = 24.8
    That means 25 days to be less than $700.

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