ShmoopTube
Where Monty Python meets your 10th grade teacher.
Search Thousands of Shmoop Videos
Ratios, Proportions, and Percents Videos 16 videos
SAT Math 1.1 Numbers and Operations. How many combinations of beverage and cereal can be made?
SAT Math 1.2 Numbers and Operations 219 Views
Share It!
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.
Related Videos
SAT Math 2.1 Geometry and Measurement. What is the measure of angle z in terms of x and y?
In 2014, the unemployment rate of one county in California was 7%. In another county, the unemployment rate was 11%. Which of the following express...
Angela is making cookies for a bake sale. She expects each batch of her cookies to sell for $40. It costs her $10 to make one batch of cookies, and...