A family spent $7845 on vacations this year. If this family decreases the amount it spends on vacations by 2.75% every year, what is the amount the family will spend on vacations in 5 years?

$6,824.03 is the amount the family will spend on vacations in 5 years

Step-by-step explanation:

The formula A = P(1 + r)^n is appropriate in this problem, with the understanding that A represents the amount the family will spend on vacations in n years and P is the current spending amount.  Then:

A = ($7,845)(1 - 0.0275)^5, where we use -0.0275 to indicate that the amount DECREASES by 2.75% annually.  Simplifying this formula, we get:

A = ($7,845)(0.9725)^5, whose value to the nearest cent comes out to:

A = $6,824.03 is the amount the family will spend on vacations in 5 years.  

step-by-step explanation:

y = | -2(-2) |     →     y = | 4 |     →     y = 4       ⇒   (-2, 4)

y = | -2(-1) |     →     y = | 2 |     →       y =   2       ⇒   (-1, 2)    

y = | -2(0) |     →     y = | 0 |     →       y = 0         ⇒   (0, 0)

y = | -2(1) |   c →     y = | -2 |     →     y =   2         ⇒   (1, 2)    

y = | -2(2) |     →     y = | - 4 |     →     y =   4         ⇒   (2, 4)  

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step-by-step explanation:

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