Answer: $191.45
Step-by-step explanation:
This question requires the price of a bike in future so you can use the future value formula to calculate it:
Future value = Amount * (1 + rate)^ no. of periods
= 350 * (1 - 14%)⁴
= 350 * 0.54700816
= $191.45
The rate is subtracted from 1 instead of being added to represent that the value is decreasing not increasing.
