This is question 10 from my homework, it's due at 11 pm! please help me and thank you so much! I have attached the question as well as the equations my professor gave us, I am just struggling a little. A collectible lunchbox increases in value by 1.2% per year. If it is worth $174 a year from now, what is its value today?ANSWER: $_______ This material will help you create mathematical models involving interest rates and rates of appreciation ordepreciation.You will work with the ideas of percentage change and proportionate change.As an example, suppose you are awarded a 3% cost-of-living raise in your salary. We call 3% the percentage change (orjust percent change) in your salary. That percentage expressed as a decimal, 0.03, is called the proportionate change.To compute your NEW salary, add your OLD salary to the dollar amount of the raise, which is 3% of your OLD salary:NEW = OLD+ 0.03 · OLD.In general, if the value of something (a monetary value, a population) increases by p × 100% from an OLD value to aNEW value, these are related by the formula: NEW =OLD+p·OLD.NEW-OLDNote that, if you solve for P, you have the formula p =OLD(Note that p here is the proportionate change and the percentage change is p × 100%.) A collectible lunchbox increases in value by 1.2% per year. If it is worth $174 a year from now, whatis its value today?ANSWER: $Do not include units in the answer box. Just a number. Round to the nearest cent.

Name: This is question 10 from my homework, it's due at 11 pm! please help m
Uploaded: 2024-03-05T11:52:21.000Z
Channel: Bartleby
Description: This is question 10 from my homework, it's due at 11 pm! please help me and thank you so much! I have attached the question as well as the equations my professor gave us, I am just struggling a little. A collectible lunchbox increases in value by 1.