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Please write a step by step explanation

Please write a step by step explanation
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3 votes
Please write a step by step explanation

Please write a step by step explanation-example-1
User Maxim Tkachenko
by
8.1k points

1 Answer

5 votes

Explanation:

The vase RETAINS 70 percent of its value per year

so the future value is

FV = PV ( .70) ^n where n is years

250 = PV ( .70)^4

Solve for PV = £ 1041.23 four years ago

User Neil Twist
by
8.8k points
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