Sarah invested $16 000 in a unit trust five years ago.

Question

The value of the unit trust has increased by 6% per annum for each
of the last 3 years.

Before this, the price had decreased by 4% per annum.
Calculate the current price of the unit trust.
Give your answer to the nearest whole number of pounds.

please help!!

Answer 1

16000 * 0.96^2 * 1.06^3 = _____

Answer 2

Thank you for the answer. Where did you get 0.96 from ?

Answer 3

nevermind :)