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A friend of yours just purchased a painting as an investment for $15,000.00 and it is supposed to appreciate at a rate of 4.15% each year. Write an equation for its value in the future. How much would
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A friend of yours just purchased a painting as an

investment for $15,000.00 and it is supposed to appreciate
at a rate of 4.15% each year. Write an equation for its
value in the future. How much would the painting be
worth in 10 years?

User Schitti
by
3.3k points

1 Answer

4 votes

Answer:

The Final Value is 23,294.54

The Equation for this is shown below

Explanation:

A = 15,000( 1 + (4.5 / 1)) ^ (1 x 10)

Meaning 15,000 times 1 plus 4.5 over 1 to the 1 times 10 power

User Em Ji Madhu
by
2.8k points
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