Oh Arfcom...

Originally Posted By SuperSixOne:
8% per year isn't 35% over 5 years. That's not how math works.

But it is.

I'll grant, it's not quite 35%, it's very close.

0.92^5 is 65.91% or a 34.09% total reduction.

Do it another way...

8% reduction in the first year is 92%

8% the second year is 84.64%

8% the third year is 77.87%

8% the fourth year is 71.64%

8% in the fifth year brings us to 65.91%!

It's pretty simple math.