6.2 Exercise 118

Clearance A department store is clearing out merchandise in order to make room for new inventory. The plan is to mark down items by 30% each week. This means that each week the cost of an item is 70% of the previous week’s cost. If the original cost of a sofa was $1,000, the cost for the first week would be $\$ 1,000 \left(0.70\right)$ and the cost of the item during the second week would be $\$ 1,000 \left(0.70\right)^{2}$. Complete the table shown below. What will be the cost of the sofa during the fifth week? Simplify the expression, to show the cost in dollars.