Question: Question 2 12.5 pts (CHAPTER 5) In 1960, the average price for one-carat diamond was around $2,500. Since then, the diamond price has increased to

 Question 2 12.5 pts (CHAPTER 5) In 1960, the average price

Question 2 12.5 pts (CHAPTER 5) In 1960, the average price for one-carat diamond was around $2,500. Since then, the diamond price has increased to around $30,000 in 2015. If the price for one-carat diamond continues rising at the same annual rate at which it's been increasing between 1960 and 2015, then the price in 2089 will be -- dollars. Increase decimal places for any intermediate calculations, from the default 2 to 6 or higher. Only round your final answer to TWO decimal places: for example, 10,000.23. Do NOT use "$" in your

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!