SOLUTION: The value of a movie poster is increasing at a rate of 3.5% per year. In 2010, the poster was worth $20.25. Find the value of the poster in 2021?
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Question 1200400: The value of a movie poster is increasing at a rate of 3.5% per year. In 2010, the poster was worth $20.25. Find the value of the poster in 2021? Answer by Alan3354(69443) (Show Source):
You can put this solution on YOUR website! The value of a movie poster is increasing at a rate of 3.5% per year. In 2010, the poster was worth $20.25. Find the value of the poster in 2021?
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Assuming it's compounded annually, and the period is 11 years:
FV = 20.25*(1 + 0.035)^11
