document.write( "Question 1078518: PLEASE HELP\r
\n" ); document.write( "\n" ); document.write( "A diamond is purchased for $2300 on 1/1/2002. Its value increases 5% each year. Find the value of the diamond on 1/1/2009.
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Algebra.Com's Answer #692997 by josmiceli(19441)\"\" \"About 
You can put this solution on YOUR website!
Let \"+p+\" = the purchase price
\n" ); document.write( "Let \"+v+\" = the value of the diamond on 1/1/2009
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\n" ); document.write( "from 2002 to 2009 is \"+7+\" years
\n" ); document.write( "\"+v+=+p%2A%28+1+%2B+.05+%29%5E7+\"
\n" ); document.write( "\"+v+=+2300%2A1.05%5E7+\"
\n" ); document.write( "\"+v+=+2300%2A1.4071+\"
\n" ); document.write( "\"+v+=+3236.33+\"
\n" ); document.write( "On 1/1/2009, the diamond will be worth
\n" ); document.write( "$3,236.33
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\n" ); document.write( "Get a 2nd opinion if needed
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