Monday
April 21, 2014

Homework Help: math

Posted by Daniel on Sunday, April 7, 2013 at 12:43am.

An antique dresser was purchased for $7500 in 2005. The dresser increases in value by 9% per year. Find the value of the dresser in 2025.

So i thought it would be :
A = 7500(1+0.09)^(20)
A = 42033...

However I have been told it could be:

Value = 7500 + 7500*0.09*20 = $21,000

Which is the correct method?

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