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IRISSAK [1]
3 years ago
8

You just purchased two coins at a price of $790 each. Because one of the coins is more collectible, you believe that its value w

ill increase at a rate of 7.3 percent per year, while you believe the second coin will only increase at 6.7 percent per year. If you are correct, how much more will the first coin be worth in 20 years
Business
1 answer:
Novosadov [1.4K]3 years ago
4 0

Answer:

$3,233.12

Explanation:

Data given in the question

Purchase value of two coins = $790

First coin rate = 7.3%

Second coin rate = 6.7%

So, after considering the above information, the amount worth in 20 years

= Purchase value of two coins ×(1 + interest rate)^number of years

= $790 × (1 + 0.073)^20

= $790 × 4.0925541961

= $3,233.12

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1 year ago
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GarryVolchara [31]

Answer:

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Correct words: <em>"If Wildhorse Company used the </em><em>Equity </em><em>value method of accounting for its investment in Ayayai Company"</em>

<em />

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So, the Equity Investments balance for Ayayai company on December 31, 2021 is $664,000.

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