document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=144941>Question 144941</A>: <I><SPAN STYLE=\"word-break: break-all;\"> Bob has owned a cabinet for 9 years. It is now worth $700.00. The value has been increasing 7% each year. Find the value of the cabinet 9 years ago. Also how much will it be worth in 10 years? </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #105693 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=105693\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Bob has owned a cabinet for 9 years. It is now worth $700.00. The value has been increasing 7% each year. Find the value of the cabinet 9 years ago. Also how much will it be worth in 10 years?<BR>\n" );
document.write( "----------------<BR>\n" );
document.write( "Let value 9 years ago be \"x\"<BR>\n" );
document.write( "[(1.07)^9] x = 700<BR>\n" );
document.write( "x = 700/(1.07)^9 = $380.75 <BR>\n" );
document.write( "--------------------------<BR>\n" );
document.write( "Let value 10 years from not be \"x\"<BR>\n" );
document.write( "(1.07)^10 * 700 = x<BR>\n" );
document.write( "x = $1377.01 <BR>\n" );
document.write( "================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H.      </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );