Question

Sally collected Pokemon cards as a little girl. Her limited edition, holographic Blastoise cost her $5. when she bought it in 1996. If this card increased in interest by 15.2% each year, how much is her card worth now?

Answer 1

Using the compound interest formula, Sally's holographic Blastoise Pokemon card is worth approximately $52.68 after 27 years with an annual interest rate of 15.2%.

Step-by-step explanation:

To determine the current value of Sally's limited edition, holographic Blastoise Pokemon card, we use the formula for compound interest:Sally's limited edition, holographic Blastoise card increased in value by 15.2% each year. To calculate the current worth of the card, we need to compound the interest over the years.

We can use the formula for compound interest, which is given by:A = P(1 + r/n)^(nt)Where:A is the final amountP is the initial principal (in this case, $5)r is the annual interest rate (15.2%, expressed as a decimal)n is the number of times interest is compounded per year(since we're assuming it is compounded annually, n=1)t isthe number of years (in this case, the number of years since 1996)Plugging in the values into the formula, we get:A = 5(1 + 0.152/1)^(1*t)To find the current worth, you would need to substitute t with the number of years that have elapsed since 1996 and solve the equation.To determine the current value of Sally's limited edition, holographic Blastoise Pokemon card, we use the formula for compound interest:Sally's limited edition, holographic Blastoise card increased in value by 15.2% each year. To calculate the current worth of the card, we need to compound the interest over the years.