shantaedyer05 shantaedyer05

03-05-2020
Mathematics

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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

03-05-2020

Answer:

that is the solution to the question

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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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