Tracey bought a diamond ring appraised at $1200 at an antique store. If diamonds have appreciated in value at an annual rate of 12%, what was the value of the ring 10 years ago? (Round your answer to the nearest dollar.)

Question

03-05-2022
Mathematics

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Tracey bought a diamond ring appraised at $1200 at an antique store. If diamonds have appreciated in value at an annual rate of 12%, what was the value of the ring 10 years ago? (Round your answer to the nearest dollar.)

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