jeremy bought a collectible model airplane for $575. one year later, the value increases by 112%. what is…

jeremy bought a collectible model airplane for $575. one year later, the value increases by 112%. what is the new value of the airplane?

jeremy bought a collectible model airplane for $575. one year later, the value increases by 112%. what is the new value of the airplane?

Answer

Explanation:

Step1: Calculate the increase amount

The increase amount is 112% of the original price. The original price is $575. So the increase amount $I$ is calculated as $I = 575\times1.12$. $I=575\times1.12 = 644$.

Step2: Calculate the new - value

The new value $N$ of the airplane is the sum of the original price and the increase amount. So $N=575 + 644$. $N = 1219$.

Answer:

$1219$