The worth of the collectible car in five years if its value is going up by 10% every year would be $46,704.79
<h3>What is the worth of the car?</h3>
If the value of the collectible car is increasing with time, it is said that the collectible car is appreciating in value.
The formula for calculating future value with appreciation:
FV = P (1 + r)^n
- FV = Future value
- P = Present value
- R = interest rate
- N = number of years
$29,000(1.1^5) = $46,704.79
To learn more about future value, please check: brainly.com/question/18760477
