1.A man put $10 into abank at the beinning of 1900 at compound interest of 8% per annum, compounded annually. How mush can he get back at the end of 2003? (Correct the answer to nearest cent.)
2.The value of a washing machine is now $5000. If its value depreciates by 12% each year,find,correct to nearest cent,
(a)its value after 4 years .
(b)its value 2 years ago .