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Rus_ich [418]
3 years ago
15

The value of a jewel in 2015 was $17500. The jewel was purchased in 2008, and its value appreciated 2.5%

Mathematics
1 answer:
ArbitrLikvidat [17]3 years ago
5 0

Answer:

$14722.14

Step-by-step explanation:

We are given that

In 2015

The value of jewel=$17500

Rate of appreciation, r=2.5%

We have to find the initial value of the jewel when it was first bought.

Time, n=7 years

Final value=Initial\;value (r/100+1)^n

Using the formula

17500=Initial\;value(2.5/100+1)^7

17500=Initial\;value(1.025)^7

Initial\;value=\frac{17500}{(1.025)^7}

Initial value=$14722.14

Hence, the the initial value of the jewel when it was first bought=$14722.14

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Step-by-step explanation:

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use proportion

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