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OpenStudy (anonymous):
Pre-Cal, word problem. You have inherited land that was purchased for $30,000 in 1960. The value of the land increased by approximately 5% per year. What is the approximate value of the land in the year 2011? Growth: A=P(1+r)^x
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OpenStudy (anonymous):
So far I have A=30000(1+.05) but for the exponent would I put in 2011 or would the exponent for x be 51 (2011-1960) ?
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