Question

An oil painting purchased for $8500.00 is increasing in value by 7.5% per year. What will be the value of the painting in for years?

Answer 1

Around $11351.49

Explanation:

To find this answer, you need to understand how the growth works. Every year, the price increases by 7.5%, which is the same as multiplying the price by 1.075. Multiplying something by itself a certain amount of times is called exponentiation, and
`1.075^4\cdot 8500.00 \approx \$11351.49`. Hope this helps!