3. Saundra purchased $8,000 worth of cryptocurrency several years ago. She expects the value of the cryptocurrency to increase over time, and she plans on selling the cryptocurrency when the value of it has doubled from her original purchase price. She keeps track of what the value of her cryptocurrency is each year, and those amounts are shown in the table below. Years after purchase 0 1 2 3 4 5 6 Value of cryptocurrency (dollars) $8,000 $8,800 $9,100 $9,500 $10,200 $10,500 $11,1 00 Percent "remaining" from previous amount (round to 1 decimal place) N/A a) Fill in the table by calculating the percent remaining after each time unit. b) Explain why "N/A" is appropriate for the first cell of the "Percent remaining" column. c) Calculate the average percent remaining value. Round your answer to I decimal place.
3. Saundra purchased $8,000 worth of cryptocurrency several years ago. She expects the value of the cryptocurrency to increase over time, and she plans on selling the cryptocurrency when the value of it has doubled from her original purchase price. She keeps track of what the value of her cryptocurrency is each year, and those amounts are shown in the table below. Years after purchase 0 1 2 3 4 5 6 Value of cryptocurrency (dollars) $8,000 $8,800 $9,100 $9,500 $10,200 $10,500 $11,1 00 Percent "remaining" from previous amount (round to 1 decimal place) N/A a) Fill in the table by calculating the percent remaining after each time unit. b) Explain why "N/A" is appropriate for the first cell of the "Percent remaining" column. c) Calculate the average percent remaining value. Round your answer to I decimal place.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Transcribed Image Text:3. Saundra purchased S8,000 worth of cryptocurrency several years ago. She expects the value of the
cryptocurrency to increase over time, and she plans on selling the cryptocurrency when the value of
it has doubled from her original purchase price. She keeps track of what the value of her
cryptocurrency Is each year, and those amounts are shown in the table below.
Value of
cryptocurrency
(dollars)
Years after
Percent "remalning" from prevlous amount
(round to 1 decimal place)
D.
$8,000
N/A
1.
$8,800
$9,100
3.
$9,500
4.
$10,200
$10,500
$11,1 00
al Fill in the table by calculating the percent remaining after each time unit.
b) txplain why "N/A"15 a0propriate forthe first rell of the "Percent remaning" column.
c) Calcu ate the average percentremaning value. Round your answer to L decmal place,
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