In order to pay back Adele Mark has set up a bank account he has asked that 11% of the total amount in the account be withdrawn each month as a payment towards his debt if Mark started the account with 9050 4000 it has not made any further deposits what would the approximate balance in the bank account be after 16 months?

(Hint:use the formula for depreciation, y=A(1-r) where A is the initial amount in the account, r is the withdraw rate and percentage terms, and t is the amount of time that has been that has passed in months.)