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skad [1K]
3 years ago
6

The value of πPhone stock has increased 9% each year for the past several years. In 2020, the stock was worth $75. What will the

stock be worth in 7 years? What was the stock worth in 2016?
Mathematics
1 answer:
Iteru [2.4K]3 years ago
4 0

Answer:

2027 = $122.25

2016 = $48

Step-by-step explanation:

Find 1% of 75

75 / 100 = 0.75

multiply by 9

0.75 * 9 = 6.75

So that's $6.75 each year

Now, lets find our answers for 7 years.

6.75 * 7 = $47.25

75 + 47.25 = $122.25

<u>The stock will be $122.25 in 2027</u>

Now for 2016.

$6.75 * 4 = $27

$75 - $27 = $48

<u>The stock was $48 in 2016</u>

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