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The basement of a large department store features discounted merchandise. Their policy is to reduce the previous month's price of the item by 5 % each month for 4 months, and then give the unsold items to charity.

Let Upper S Subscript 4 be the sale price for the fourth month and Upper P the original price. Express Upper S Subscript 4 as a function of Upper P Baseline Number .

Answer :

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 P(t) = Po(1 - r)^t 

P(t) = price after t months --> S 
Po = initial price -- P 
r = rate as a decimal 

S = P(.9)^4 
-> = 100(.9)^4 
-> = 65.61 

(100 - 65.61)/100 
34.39/100 
34%

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