Question

Tonya purchased a building for $295,150. The land appreciates about 5.6% each year. What is the value of the land after 17 years?

Answer 1

\(295150 * \underbrace{1.056 * 1.056 * 1.056 * ... * 1.056}_{17\;times}\)

Can you think of a more convenient way to write that?

Answer 2

In 17 years, land will increase in value by
1.056 ^ 17

Answer 3

i got $745,297.04 as my answer

Answer 4

So, land value after 17 years =
295,150 * 2.5251466742

= 745,297

Answer 5

Yes that's it !!!

Answer 6

Thanks :^)

Answer 7

u r welcome