Question

In the year 1980, an investment was worth $28600. In the year 1986, this investment was worth $38800.

Answer 1

The value of this investment is $38800 at the rate of $1700 per year

Step-by-step explanation

If an investment in the year 1980 worth $28600 and in the year 1986 it was worth $38800, then the value of this investment is $38800.

To find the rate, the following formula applies:

`\frac{\text{Change in Investment worth}}{\text{Change in years}}=(38800-28600)/(1986-1980)=(10200)/(6)=\text{\$}1700\text{ per year}`

Therefore, the value of this investment is $38800 at the rate of $1700 per year.