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23 July, 07:54

Which expression shows the value of a rare postage stamp, originally purchased for $5000, that has been increasing in value by 11% for 10 years

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  1. 23 July, 08:13
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    A = P (1+i) ⁿ, where P = original value, " i " = growth rate, n = #years; A = actual value:

    A = 5000 (1+0.11) ¹⁰

    A = 5000 (1.11) ¹⁰

    A = $14,197.1
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