the value of a famous painting is increasing at a rate of 6% per year and has a value of 800000 in the year of 2000. what is the
1 answer:
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Answer:
Step-by-step explanation:
we know that
The simple interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest
t is Number of Time Periods
in this problem we have
substitute in the formula above and solve for t