My NFT Collection is depreciating in value and is only worth $165,000 as of today. If the value of my collection is steadily depreciating at 3% compounded semiannually, how much will it be worth in 4 ½ years?
My NFT Collection is depreciating in value and is only worth $165,000 as of today. If the value of my collection is steadily depreciating at 3% compounded semiannually, how much will it be worth in 4 ½ years?
Calculus: Early Transcendentals
8th Edition
ISBN:9781285741550
Author:James Stewart
Publisher:James Stewart
Chapter1: Functions And Models
Section: Chapter Questions
Problem 1RCC: (a) What is a function? What are its domain and range? (b) What is the graph of a function? (c) How...
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Question
My NFT Collection is depreciating in value and is only worth $165,000 as of today. If the value of my
collection is steadily depreciating at 3% compounded semiannually, how much will it be worth in 4 ½
years?
Expert Solution
Step 1
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.
here we have
P=165000
r=-3%=-0.03 (depreciating rate)
n=2 for semiannually compound
t=4.5 years
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