Question

The value of a baseball players rookkie card began to increase once the player retired.When he retired in 1995 hid card was worth 9.43.The value has increased by 1.38 each year since then.Yall I really need help I dont get this at all

Answer 1

Given that,

The value of card starts increasing after 1995. In this question, we have to find the value of card at present (2020).

Initial worth = I = 9.43

Final worth = F = ?

Total years = 2020 - 1995 = 25 years

Increasing rate = r = 1.38

The final worth of a card after 'n' years is calculated as:

F = I * r^n

F = 9.43 * (1.38)^25

F = 9.43 * 3140.34

F = 29613.43

Hence, the value of the card in 2020 would be 29613.43.