Question

An ancient sculpture is valued at €x. It appreciates by 2% p.a. for 2 years, then depreciates by 3% p.a. for 3 years and is then sold for €5 million. Find x.​

Answer 1

x(1.02²)(.97³) = €5 million

.949545x = €5 million

x = 5,265,679.94 euros