SOLUTION: A rare coin is purchased for $400 in 2001. Its value increases by 8% each year. About how much will the coin be worth in 2010? A. $634.75 B. $685.53 C. $740.37 D. $799.60

SOLUTION: A rare coin is purchased for $400 in 2001. Its value increases by 8% each year. About how much will the coin be worth in 2010? A. $634.75 B. $685.53 C. $740.37 D. $799.60

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Question 137750: A rare coin is purchased for $400 in 2001. Its value increases by 8% each year. About how much will the coin be worth in 2010?
A. $634.75
B. $685.53
C. $740.37
D. $799.60
Answer by checkley77(12844) (Show Source): You can put this solution on YOUR website!
400(1+.08)^9
400(1.08)^9
400*1.85
740.37 ANSWER C).

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