SOLUTION: a kazoo collection appreciates (goes up in value) 10%. Mike says that after 10 years, the value will double. how do you respond
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Question 189574: a kazoo collection appreciates (goes up in value) 10%. Mike says that after 10 years, the value will double. how do you respond
Answer by user_dude2008(1862) (Show Source): You can put this solution on YOUR website!
Equation: ^t)
... FV = future value, P=present value, r=rate, t=time
P -- original value ----> 2P - doubled value
r=10%=0.1
t=10
^{10})
^{10})
^{10})
... equation is FALSE
Ans: original claim is FALSE... value actually doubles in ~7.27 yrs
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