Question 2: The share price of a public company fell 4% on each day of a week, from Monday to Friday. What is the price of a share at the end of the trading day on Friday, if the share was valued at $20 on the Sunday of the same week?
I could do this the long way by calculating the depreciation for each day as: monday: 20 -4% of 20 tuesday:monday-4% of monday wed: tuesday-4% of tuesday and so on to friday
This method takes a lot of time. What is the shortest way of finding the answer? could depreciation formula could be used for it?