Angela found out that her grandmother's antique watch is worth five hundred dollars and increasing in value by five percent every year. What will the value of the watch be in twenty years?

Question

Mathematics

Guest

20 August, 20:08

Angela found out that her grandmother's antique watch is worth five hundred dollars and increasing in value by five percent every year. What will the value of the watch be in twenty years?

+2

Answers (1)

Know the Answer?

Edward · Answer 1

5000 * 1.05^n-1

5000 * 1.05^19

12,635 should be the answer

let's check using a smaller number we can solve different ways easier

5000 * 1.05^2-1

5,250

so yes

after 2 years it will be 12,635