Math, asked by Raghu2242, 1 year ago

A painting is purchased for $10,000 in 2000 increased in value by 8% per year. Find its value in 2004.

Answers

Answered by jmsv007
0

Answer:

13,604.88

Step-by-step explanation:

10,000*(1.08)^4 is the answer.

The painting was purchased in 2000 so there is 4 years passed till 2004.

The interest rate is 8% that is 8/100.

So you use the formula,

Future value = Present value*(1+interest rate)^n

where n is number of years.

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