Paul bought a collector edition baseball card for $112 800 dollars. Every year the value of the card goes up by 5%. What would be the value of the card after 3 years has passed?
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Answer:
$130,643
Step-by-step
1. 5% of $112,800 is 5,640 which you add to $112,800 to give you $118,440
2. 5% of $118,440 is 5,922 which when added to $118,440 is $124,362
3. 5% of $124,362 is 6,281 which again you add to give you $130,643
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