Question

A diamond ring was purchased twenty years ago for $500. The value of the ring increases by 8%

each year. What is the value of the ring now?

Answer 1

$2157.85

Explanation

All you would do is every year find eight percent of each number then carry it on the next year so on and so forth until year

How you would find 8% of a number is:

Multiply your current number by .08 and what ever that answer is add it onto the first number and that would give you one year