Question

Quintaveous’s father gave him a baseball card collection for his birthday. He told

Quintaveous that its current value is $250 and that each year the value will grow at

a rate of 10%. What is the approximate value of the card after 6 years?

Group of answer choices


$310


$500


$133


$443

Answer 1

the approximate value after 6 years is $443

Explanation:

The computation of the approximate value after 6 years is shown below:

= Current value × (1 + rate of interest)^number of years

= $250 × (1 + 0.10)^6

= $250 × 1.1^6

= $442.8903

= $443

Hence, the approximate value after 6 years is $443

Therefore the last option is correct