1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
stepan [7]
3 years ago
11

The value of a collector's item is expected to increase exponentially each year. The item is purchased for $500 and its value in

creases at a rate of 5% per year. Find the value of the item after 4 years. $578.81 $607.75 $1687.50 $2531.25
Mathematics
2 answers:
Svetllana [295]3 years ago
4 0

Answer:

Answer: $607.75

Step-by-step explanation:

Answer:

 $607.75

Step-by-step explanation:

As a first approximation, compound interest will be slightly higher than simple interest for a relatively short time period. Here simple interest at 5% for 4 years will add 4×5% = 20% to the value, adding about $100 to the initial $500 value. That is, we expect the value in 4 years to be slightly more than $600.

The appropriate answer choice is $607.75.

_____

The actual amount can be calculated using the multiplier 1.05 for each of the 4 years, or 1.05^4 ≈ 1.21550625 for the entire period. Then the predicted item value is ...

 $500 × 1.21550625 = $607.753125 ≈ $607.75

slava [35]3 years ago
3 0

Answer:

  $607.75

Step-by-step explanation:

As a first approximation, compound interest will be slightly higher than simple interest for a relatively short time period. Here simple interest at 5% for 4 years will add 4×5% = 20% to the value, adding about $100 to the initial $500 value. That is, we expect the value in 4 years to be slightly more than $600.

The appropriate answer choice is $607.75.

_____

The actual amount can be calculated using the multiplier 1.05 for each of the 4 years, or 1.05^4 ≈ 1.21550625 for the entire period. Then the predicted item value is ...

  $500 × 1.21550625 = $607.753125 ≈ $607.75

You might be interested in
it costs $12 to attend a golf clinic with a local pro. Buckets of balls for practice during the clinic costs $3 each. How many b
goldfiish [28.3K]

Answer: If you take out the price of the golf clinic with a local pro, you could buy 6 buckets.

Step-by-step explanation:

4 0
3 years ago
Read 2 more answers
Estimate the product 57×29
love history [14]
  58
x29
___
1,503 =
1,500
8 0
3 years ago
Triangle ABC and its transformation DEF are shown. What transformation of triangle ABC produced triangle DEF?
SVETLANKA909090 [29]

Answer: a

Step-by-step explanation:

4 0
3 years ago
Read 2 more answers
1/2×1/3×1/4 need to show work
klasskru [66]
1x1x1=1
2x3x4=6x4=24
1/24
please mark me brainliest I'm trying to level up

3 0
3 years ago
Read 2 more answers
The temperature was 8 degrees Celsius at midnight.
Pavel [41]

Answer:

-4 degrees Celsius

Step-by-step explanation:

start at 8

subtract 12 from 8

8-12=-4

6 0
2 years ago
Read 2 more answers
Other questions:
  • One exterior angle of a regular polygon measures 30 degrees. How many sides does the polygon have?
    8·1 answer
  • What is the value of R in this circuit
    8·1 answer
  • Simplify the expression (x^19 times y^21) divided by (x^2 times y^6)^2
    13·1 answer
  • Find BC<br>AC = 7<br>BD = 7.5<br>DE = 1.5<br>AE = 11​
    12·1 answer
  • A full truck weighed 3 2/6 tons. If the truck was only 4/6 full, how much would it weigh?
    6·1 answer
  • A line has a slope of 9/4 and a y-intercept of -14.
    6·1 answer
  • Need help to solve please
    6·1 answer
  • Mark cycles from home to school at a speed of 16 kilometers per hour. He cycles back on the
    15·1 answer
  • Find the area of the rectangle shown?
    10·2 answers
  • Rewrite the expression 24x - 12 using the distributive property? Find eight equivalent expressions.
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!