Answer:
The value of basketball player's autograph a year ago is $280
Step-by-step explanation:
Given as :
The present value of autograph = $ 336.00
The rate of increase of autograph = 20%
The time period = 1 year
Let The value one year ago = $ x
So ,
The value of autograph after n year = The present value × [tex](1+\frac{Rate}{100})^{n}[/tex]
Or, $ 336.00 = $ x × [tex](1+\frac{20}{100})^{1}[/tex]
Or, $ 336.00 = $x × 1.2
∴ x = [tex]\frac{336.00}{1.2}[/tex] = $280
Hence The value of basketball player's autograph a year ago is $280 Answer
