# math

The balance on a car loan after 4 years is \$8,996.32. The interest rate is 5.6% compounding annually. What was the initial value of the loan?

An investment made in the stock market decreased at a rate of 4% per year for 5 years. What is the current value of the \$1,000,000 investment? Include your calculations in your final answer.

explain how to solve these in steps asap

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1. x (1 - 0.056 )^5 = 8996.32
.944^5 x = 8996.32
x = 8996.32 /.749652
x = 12000.65

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Damon
2. same way
10^6 * 0.96^5

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Damon

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