APPLICATION
5. A signed Miguel Cabrera baseball glove is worth $\$ 1000$. Its value increases by $15 \%$ each year. How much is the glove going to be worth in 10 years from now? [ /3]

Step 1 ：The problem is asking for the future value of an investment with an annual interest rate of 15%. The formula for future value is: \(FV = PV * (1 + r)^n\) where: \(FV\) is the future value of the investment, \(PV\) is the present value of the investment, \(r\) is the annual interest rate (expressed as a decimal), \(n\) is the number of years the money is invested for.

Step 2 ：In this case, the present value (\(PV\)) is $1000, the annual interest rate (\(r\)) is 15% or 0.15, and the number of years (\(n\)) is 10.

Step 3 ：Substitute the given values into the formula: \(FV = 1000 * (1 + 0.15)^{10}\)

Step 4 ：Solving the equation gives the future value of the glove as approximately $4045.56.

Step 5 ：Final Answer: The glove is going to be worth approximately \(\boxed{4045.56}\) in 10 years from now.