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Tracey bought a diamond ring appraised at$ 1600 at an antique store. if diamonds have appreciated in value at an annual rate of 10%, what was the value of the ring 10 years​ ago…

Tracey bought a diamond ring appraised at$ 1600 at an antique store. if diamonds have appreciated in value at an annual rate of 10%, what was the value of the ring 10 years​ ago…
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tracey bought a diamond ring appraised at$ 1600 at an antique store. if diamonds have appreciated in value at an annual rate of 10%, what was the value of the ring 10 years​ ago?

User Exel
by
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2 Answers

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Hello There!

1600 / 1.1^10 = $616.87

Hope This Helps You!
Good Luck :)

- Hannah ❤
User Sundeep Badhotiya
by
8.0k points
1 vote
1600 / 1.1^10 = $616.87
I think I'm not sure check your answer

User Yasin Bahtiyar
by
8.0k points
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