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Sagot :
The worth of the collectible car in five years if its value is going up by 10% every year would be $46,704.79
What is the worth of the car?
If the value of the collectible car is increasing with time, it is said that the collectible car is appreciating in value.
The formula for calculating future value with appreciation:
FV = P (1 + r)^n
- FV = Future value
- P = Present value
- R = interest rate
- N = number of years
$29,000(1.1^5) = $46,704.79
To learn more about future value, please check: https://brainly.com/question/18760477
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