Question

The value of a precious gem stone has increased at a rate of 120% each year. If the gems's value started at $50 in 1920, how much will it be worth in 2008?

Answer 1

Well first things first
You just subtract 2008-1920 to see how much the year gap is between the increasing percentage of the value of the gem
2008-1920=88
Then we must multiply 120x88
120x88 gives us a value of $105,60
Hoped this helped