Question

Cassandra bought an antique dresser for $500. If the value of her

dresser increases 6% annually, what will be the value of Cassandra's dresser at the end of 3 years to the nearest dollar?

Answer 1

A stands for the value of Cassandra's dresser at the end of 3 years rounded to the nearest dollar. P is the original price. 1+i refers to interest, and the exponent 3 refers to three years. The correct answer is $595.

Explanation:

A=P(1+i)^n

A=500(1+0.06)^3

A=500(1.06)^3 A=500(1.19)

A=595

Answer 2

A=P(1+i)^n
A=500(1+0.06)^3
A=500(1.06)^3 A=500(1.19)
A=595

A stands for the value of Cassandra's dresser at the end of 3 years rounded to the nearest dollar. P is the original price. 1+i refers to interest, and the exponent 3 refers to three years. The correct answer is $595.