Answer:
The value of the sculpture in 8 years is $258.865
Step-by-step explanation:
The original value of sculpture = $950
we are given that the value decreases by 15% each year.
Formula : [tex]N(t)=N_0(1-r)^t[/tex]
Where N(t)=Value after t years
[tex]N_0 =[/tex] Initial value
r = rate of decrease in decimals
t = time
We are supposed to find the value of the sculpture in 8 years.
Substitute the values in the formula :
So,[tex]N(t)=950(1-0.15)^8=258.865[/tex]
Hence the value of the sculpture in 8 years is $258.865
