shantaedyer05 shantaedyer05
  • 03-05-2020
  • Mathematics
contestada

Jean bought an antique ring for $1200. Its value appreciates by 10% each year. Calculate the value of the ring after 3 years.​

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Akolism256
Akolism256 Akolism256
  • 03-05-2020

Answer:

that is the solution to the question

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stranclan72
stranclan72 stranclan72
  • 03-05-2020
Equation of appreciation

Value (after n terms) = Base value * ((1 + (R/100))^n

Base value is $1,200

R equals appreciation in percentage, in our case 10

n (terms) = 3 years

Value after 3 years = $1,200 x (1 + 0.1)^3 = $1,597.20
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