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SAT Math: Numbers and Operations Drill 1, Problem 2. If the masterpiece will be worth $45,055 in five years, what is its worth now?
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SAT Math 1.2 Numbers and Operations 219 Views
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Description:
SAT Math: Numbers and Operations Drill 1, Problem 2. If the masterpiece will be worth $45,055 in five years, what is its worth now?
Transcript
- 00:02
And here's your shmoop du jour...
- 00:04
The value of a rare work of art...
- 00:06
okay, it's your baby sister's finger painting, but the bidders don't need to know that...
- 00:10
is appreciating annually by about 15%.
- 00:14
If the... masterpiece... will be worth $45,055 in five years, what is its worth now?
Full Transcript
- 00:21
Here are your potential answers...
- 00:25
We want to find how much this work of art is worth today.
- 00:29
To do that, we need the help of an equation.
- 00:31
The equation basically reads:
- 00:33
New cost equals original cost times one plus rate of appreciation raised to the number of years.
- 00:41
Replace those words with our numbers and you get:
- 00:44
$45,055 = V times the quantity 1 + 0.15 to the fifth power.
- 00:52
For our purposes, V represents the original cost of the work.
- 00:56
Now that we have our equation, all we have to do is solve for V.
- 01:01
Divide both sides of the equation by 1.15 to the fifth...
- 01:10
...to get that V equals around 22,400.
- 01:15
(D) is the correct answer.
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