Question

Sam just inherited a painting from his grandfather. It has been appraised as being worth $3,500. What was the value of the painting 14 years ago, when it was originally purchased, if its value has appreciated at a rate of 7% annually? Sam just inherited a painting from his grandfather. It has been appraised as being worth $3,500. What was the value of the painting 14 years ago, when it was originally purchased, if its value has appreciated at a rate of 7% annually? @Mathematics

Answer 1

you have to solve
\[P(1.07)^{14}=3,500\] for P

Answer 2

a one step answer, via
\[P=\frac{3500}{(1.07)^{14}}\] and a calculator

Answer 3

thanks

Answer 4

yw

Answer 5

the other pls