Question

Q#9: Every year the value of an antique vase appreciates (increases) by 20% of its value in the previous

year, If the value of the vase was $180,000 in 2012; find the value in 2010.its​

Answer 1

Answer:

$12500

Step-by-step explanation:

Every year, the value of an antique vase appreciates by 20% of its value in the previous year. If the value of the vase was $180 000 in 2012, its value in 2010 was $125000

Step-by-step explanation:

Given the appreciation rate r, the initial value I, the final value V, and the period of appreciation n, the formula for appreciation is given by:

V = I(1 + r)ⁿ

In our case, we need to work out the value of n.

We do this as follows:

n =2012 - 2010 = 2 years

Substituting the values we have:

180000 = I(1.20)²

180000 = 1.44I

I = 180000/1.44

= 125000

So, in 2010, the value of the vase was $125000