On average artwork by certain painters has grown in value at

On average, artwork by certain painters has grown in value at a rate of 4.4% APR compounded annually. Your client wants to invest $90,000 in a painting and expects to sell it in 20 years. At the above rate, what is the expected future value of the painting?

Solution

Correct option is = $212,938

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Future value = Investment x (1+APR)^Years

Future value = 90000 x (1+4.4%)^20

Future value = $212,938