Question

Sheryl purchased a plot of land for $32,500. The land appreciates about 4.9% each year. What is the value of the land after eleven years?

Answer 1

\[A=32500(1.049)^{11}=$55006.46\]

Answer 2

When should we apply A = P e^(rt)?

Answer 3

When you have continuous compounding.

Answer 4

Where is the key word to recognize which formula to apply?

Answer 5

i figured that one out guys thank you!

Answer 6

you can help with my other ones though?