Question

Jean bought an antique ring for $1200. Its value appreciates by 10% each year. Calculate the value of the ring after 3 years.​

Answer 1

Equation of appreciation

Value (after n terms) = Base value * ((1 + (R/100))^n

Base value is $1,200

R equals appreciation in percentage, in our case 10

n (terms) = 3 years

Value after 3 years = $1,200 x (1 + 0.1)^3 = $1,597.20

Answer 2

that is the solution to the question