Ask Question
23 August, 10:07

the national economy shrank in an annual rate of 8% per year for three consecutive years then the economy shrank by 24% over the three year. The economy actually shrank by what percentage over 3 year.

+5
Answers (1)
  1. 23 August, 11:00
    0
    The economy is at a level that is (1 - 8%) ³ = 0.778688 of the level it was at the beginning of the 3-year period. It has shrunk by

    ... 1 - 0.778688 ≈ 22.1%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “the national economy shrank in an annual rate of 8% per year for three consecutive years then the economy shrank by 24% over the three ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers