Your Mutual Fund was valued at $237,500. It has lost 6% per year for the last 3 years. What is its value today?

a) $179,263.70
b) $187,721.40
c) $197,263.70
d) $237,500.60

The answer is C) $197,263.70

Step-by-step explanation:

It's losing 6% PER year for the last 3 year.

You can do what I did and take $237,500 and times it 0.06. Which should give you 14,250, that is how much is lost in year one.

So subtract 14,250 from 237,500, you should have $223,250 now.

Repeat the first step with $223,250 now, you times it by 0.06 again and you should get 13,395, you subtract that from $223,250.

You have $209,855 now, once again times that by 0.06 and you get 12,591.30. Subtract 12,591.30 from 209,855 and you should end up with $197,263.70

It's a long, simple method and I'm sure there is another method of solving this question, but this is an easy way to get the answer.

slope is 35 and 20 miles is the y-intercept.

step-by-step explanation: