Answer:
A = $784.00
Step-by-step explanation:
This is the answer
The current value of the coin is $990.38 if the Conner's coin collection, which was worth $400 eight years ago, has been increasing in value by 12% per year since then.
It is defined as the interest on the based on the principal amount, it does not include the compounded amount. The interest calculate on the initial amount or borrowed amount.
We have formula:
A = P(1 + r)^t
Here P = $400
r = 12% = 0.12
t = 8 years
A = 400(1+0.12)^8
A = 400(2.47596)
A = $990.38
Thus, the current value of the coin is $990.38 if the Conner's coin collection, which was worth $400 eight years ago, has been increasing in value by 12% per year since then.
Learn more about the simple interest here:
brainly.com/question/22621039
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