Answered

Join the IDNLearn.com community and get your questions answered by experts. Get accurate answers to your questions from our community of experts who are always ready to provide timely and relevant solutions.

The equation for the price of a baseball card that was bought for 5 dollars and has appreciated 5% yearly. Find the yearly calue of the card 25 years later

Sagot :

Answer:

The yearly value of the card 25 years later is $16.93.

Step-by-step explanation:

You can use the following formula to find the future value:

FV=PV(1+r)^n

FV= future value

PV= present value= 5

r=rate= 0.05

n=number of periods of time= 25

Now, you can replace the values in the formula:

FV=5(1+0.05)^25

FV=5(1.05)^25

FV=16.93

According to this, the answer is that the yearly value of the card 25 years later is $16.93.

We value your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Trust IDNLearn.com for all your queries. We appreciate your visit and hope to assist you again soon.