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5 February, 08:29

An oil painting originally cost $5500 and increases in value at a rate of 4% per year. Find the value of the painting after 15 years

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  1. 5 February, 08:46
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    A=p (1+r) ^t

    A future value

    P present value 5500

    R rate 0.04

    T time 15 years

    A=5,500 * (1+0.04) ^ (15)

    A=9,905.19
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