Ask Question
24 September, 14:45

Berto invested in a precious mineral. The value of the mineral tends to increase by about 11% per year. He invests $40,000 in 2015.

How much more will his investment be worth in 2020?

+5
Answers (1)
  1. 24 September, 15:51
    0
    11% per year = 0.11 / year

    Present value (2015) = $40,000

    Future value (2020) = $40,000 * (1+0.11) ^ (2020-2015)

    =40000*1.11^5

    =$67,402.33
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Berto invested in a precious mineral. The value of the mineral tends to increase by about 11% per year. He invests $40,000 in 2015. How ...” in 📙 Mathematics if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers