SOLUTION: You have an inherited diamond ring that had an appraised value of $2500 in 1970. The appraised value has increased by approximately 6% per year. What will be the value in 2010?

Question 1134520: You have an inherited diamond ring that had an appraised value of $2500 in 1970. The appraised value has increased by approximately 6% per year. What will be the value in 2010?
Answer by ikleyn(52805) (Show Source): You can put this solution on YOUR website!
.

After 40 years (= 2010 - 1970) it is

   
     = 25714 dollars.

My congratulation ! It works as a good bank ( and even better ! )

Diamond are forever ! !

RELATED QUESTIONS
You acquired an antique dresser that was appraised in 1970 at $2,000.00. It is now 1998,... (answered by ankor@dixie-net.com)

In the year 1990, a house was appraised for $97,200. By the year 1998 the value had... (answered by josgarithmetic)

Jessica had her painting initially appraised at $4,500 in value years ago. Jessica just... (answered by Theo)

Stefan has 42 coins in his collection. The coins consist of nickles, dimes, and quarters. (answered by checkley71)

Stefan has 42 coins in his collection. The coins consist of nickels, dimes, and quarters. (answered by checkley75)

Ransford and Alda Mariano own a home recently appraised for $422,500. The balance on... (answered by Boreal)

An investment was worth $2500 in 1995. By 2000 it had grown to $3500. Let y be the value... (answered by stanbon)

There is a house that is being sold at a sherrifs auction. The house was aprraised for... (answered by richwmiller,vksarvepalli)

A real estate agent wishes to determine whether tax assessors and real estate appraisers... (answered by math_tutor2020)