Penelope has a collection of vintage action figures that is worth $350. If the collection appreciates at a rate of 2.8% per year, which equation represents the value of the collection after 5 years? Answer V = 350(1 + 0.028)(1 + 0.028)(1 + 0.028)(1 + 0.028); V = 350 * (0.972) ^ 5; V = 350 * (1.028) ^ 5; V = 350 * (1.28) ^ 5

Answer 1

The correct equation is:

V = 350 * (1.028) ^ 5

This takes into account the initial value of the collection ($350) and the appreciation rate of 2.8% per year for 5 years.