A fine antique has been appreciating in value since its purchase. Its value has been increasing at the rate of 11.9% per year. After 11 years of increase, the antique's current value is $62,850. What was the initial value of the antique?
A fine antique has been appreciating in value since its purchase. Its value has been increasing at the rate of 11.9% per year. After 11 years of increase, the antique's current value is $62,850. What was the initial value of the antique?
Holt Mcdougal Larson Pre-algebra: Student Edition 2012
1st Edition
ISBN:9780547587776
Author:HOLT MCDOUGAL
Publisher:HOLT MCDOUGAL
Chapter7: Percents
Section7.7: Simple And Compound Interest
Problem 16E
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A fine antique has been appreciating in value since its purchase. Its value has been increasing at the rate of 11.9% per year. After 11 years of increase, the antique's current value is $62,850. What was the initial value of the antique?
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