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iris [78.8K]
3 years ago
5

An old coin is sold for $2 and its value increases by 8% each year after it is sold. What is the value of the coin, in dollars,

in 10 years
Mathematics
1 answer:
spayn [35]3 years ago
5 0
  • Principal=P=$2
  • Rate of interest=8%=R
  • Time=T=10years

Interest be I

\\ \sf\Rrightarrow I=\dfrac{PRT}{100}

\\ \sf\Rrightarrow I=\dfrac{2(8)(10)}{100}

\\ \sf\Rrightarrow I=\dfrac{280}{100}

\\ \sf\Rrightarrow I=2.8\$

Now

Value of coin after 10years =2+2.8=<u>4</u><u>.</u><u>8</u><u>$</u>

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