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Popular Word Problems >

If Matilda purchases the painting for 10000 dollars and assumes a growth rate of 5% pa calculate the value of the investment after 1 year

Solution

I f M a t i l d a p u rc ha ses t h e p ain t in g f or 10000 d o ll a rs an d a ss u m es a g ro wt h r a t e o f 5% p a c a l c u l a t e t h e v a l u e o f t h e in v es t m e n t a f t er 1 ye a r

Solution

Amount : 10500

Solution steps

Translate the problem into an equation:

A = 10000 (1 + 0.05 \cdot 1)

10000 (1 + 0.05 \cdot 1) = 10500

Amount : 10500

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