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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

Respuesta :

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.

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