3 years ago

You bought a baseball card for $5. It appreciates 5% every year. How much will the card be worth after 38 years?

1 answer:

7 0

Answer:

$ 31.925

Step-by-step explanation:

Final Value = a (1+r)^n

a = initial amount, r = appreciation rate, n = no. of time periods

a = 5 , r = 5% = 0.05 , n = 38

5 (1+0.05)^38

5 (1.05)^38

5 (6.385)

= 31.925

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