contestada

Carlos buys a vintage automobile for $7300. He estimates that the value will increase by 3% every year. Estimate the value of the automobile in ten years.

Respuesta :

Space

Answer:

$9810.59

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

  1. Brackets
  2. Parenthesis
  3. Exponents
  4. Multiplication
  5. Division
  6. Addition
  7. Subtraction
  • Left to Right

Algebra I

Simple Interest Rate Formula: [tex]\displaystyle A = P(1 + r)^t[/tex]

  • P is principle amount
  • r is rate
  • t is time (in years)

Step-by-step explanation:

Step 1: Define

Identify variables

P = 7300

r = 3% = 0.03

t = 10

Step 2: Solve for A

  1. Substitute in variables [Simple Interest Rate Formula]:                                 [tex]\displaystyle A = 7300(1 + 0.03)^{10}[/tex]
  2. (Parenthesis) Add:                                                                                            [tex]\displaystyle A = 7300(1.03)^{10}[/tex]
  3. Evaluate exponents:                                                                                         [tex]\displaystyle A = 7300(1.34392)[/tex]
  4. Multiply:                                                                                                              [tex]\displaystyle A = 9810.59[/tex]

Otras preguntas