The value of asset that was bought for 50 increases by 10% every year. What is the aproximate value of the asset after 4 years?.
Answers
Answer:
Biomagnification is the accumulation of a chemical by an organism from water and food exposure that results in a concentration that is greater than would have resulted from water exposure only and thus greater than expected from equilibrium. From: Treatise on Geochemistry, 2007
Answer:
the approximate value of the asset after 4 years is about 73.205.
Step-by-step explanation:
To calculate the approximate value of the asset after 4 years using compound interest, we can use the following formula:
A = P*(1+r)^n
where A is the final amount, P is the initial amount, r is the annual interest rate as a decimal, and n is the number of compounding periods.
In this case,
the initial amount (P) is 50,
the annual interest rate (r) is 10% or 0.1, and
the compounding period (n) is 4 years.
So, using the formula:
A = 50*(1+0.1)^4
A = 50*(1.1)^4
A = 50*1.4641
A ≈ 73.205
Therefore, the approximate value of the asset after 4 years is about 73.205.
Compound interest is a type of interest calculation in which the interest earned on an investment or loan is added to the principal amount, and then the interest for the next period is calculated on the total amount, including the previous interest. This means that the interest earned grows exponentially over time.
To learn more about asset from the link below
https://brainly.in/question/5156979
To learn more about compound interest from the link below
https://brainly.in/question/1128320
#SPJ2