Question

Your dad just found a collection of baseball cards while cleaning out his uncle’s attic. As he sorts through them, he finds a Babe Ruth rookie card from 1914 in pristine condition. He gets the card appraised and it’s worth $1150 today. If his uncle originally paid $3.25 for the card, what is the rate of appreciation?

Answer 1

The rate of appreciation is 35284.615%

Explanation:

We are given that Your dad just found a collection of baseball cards while cleaning out his uncle’s attic.

Original price of card = $3.25

Price of card today = $1150

Difference in price = 1150-3.25=1146.75

Rate of appreciation =
`(difference)/(original) * 100`

Rate of appreciation =
`(1146.75)/(3.25) * 100=35284.615\%`

Hence the rate of appreciation is 35284.615%