Answer
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B(3) = 11,576.25
↓Steps Explained:↓
anassetworth10000appreciates5%for3years
What is the accumulated value?
Book Value Formula:
B(t) = A(1 + r)t
Calculate appreciation rate:
| Appreciation rate (r) = | Appreciation % |
| 100 |
| Appreciation rate (r) = | 5 |
| 100 |
Appreciation rate (r) = 0.05
Plug in our numbers
B(3) = 10000(1 + 0.05)3
B(3) = 10000(1.05)3
B(3) = 10000(1.157625)
Final Answer
B(3) = 11,576.25Take the Quiz Switch to Chat Mode
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