Question

Joshua's Babe Ruth baseball card is worth 500,000. If the value continues to grow by 2% each year, how much will the card be worth in 5 years?

Answer 1

We will first calculate the interest;

`I=(P* R* T)/(100)`
`=(500000*2*5)/(100)`
`=50000`

The value worth after 5 years = 500000+50000 = 550 000