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Ilya [14]
2 years ago
5

Lyle bought a baseball card for $800. If the value of the card decreases by 1.5% each year, find the value of the card after 12

year
A)615.92
B)642.85
C)667.31
D)683.72
Mathematics
1 answer:
allsm [11]2 years ago
6 0

Answer:

FV= $669.11

Step-by-step explanation:

Giving the following information:

Purchase price (PV)= $800

Decrease value (d)= 1.5% per year

Number of periods (n)= 12 years

<u>To calculate the value of the card after 12 years, we need to use the following formula:</u>

FV= PV / (1 + d)^n

FV= 800 / (1.015^12)

FV= $669.11

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