A diamond ring was purchased ten years ago for 300. the value of the ring increased by 7% each year. what is the value of the ring today

Question

asked Dec 11, 2024 126k views

1 Answer

Dre Ross · Answer 1 · 2024-12-15T16:46:31+0000

Answer:

Below

Explanation:

Value will be original value * ( 1 + i)^n i = decimal annual interest

n = years

Value = 300 ( 1 + .07)^10 = 590.15 (dollars ?)