Tracy purchased a building for $209,350. The land appreciates about 4.5% each year. What is the value of the land after 15 years?
ok what do you do first i know what to do im asking you.
I have no idea.
ok let me do the problem really quick so i have the answer
@ikram002p I need some help here its been a while since I did this
lets get some help
We need some help lol
yes we do lol
this problem is done in the same way as is the calculation of the Amount of money one would have after investing Principal P at interest rate r for n years. What is P in this case? r? t?
what does the pertinent equation / formula look like?
A = (Prt)+P
the binifit each year = $209,350 ×4.5% so since its 15 yrs it would be = $209,350 ×4.5% ×15 the value of the land after 15 years =binefit+the orginal
so I got it right crap i second guessed my self I know the answer now
no @jlg030597 u did ur best to help :D
or, A = P (1+r)^t
no I mean I did that with the multiplying everything and got the answer from that or no?
and thanks @ikram002p
np ur wlc anytime :D
I think I got it right Atleast but im not sure would the answer be in the millions
it would be for sure
The answer i got isnt one of them opition
ok I may have gotten it then
what did you get?
141 311.25
are you sure its not 14131125 not with a decimal
$221,440.14 $104,935.77 $405,151.38 $350,661.25 these are my opition
ok wait a second
Why not write out the calculation that you need to perform? A = value of the land after 15 years = P*(1+r)^t A = $209350 (1 + 0.045)^15 Please re-calculate this. If you do, and if you do it correctly, you'll immediately have the correct answer.
what kind of calculator have you?
im using google m calculator ran out of batteries
405 151.379
OK. Type in 209350(1+0.045)^15 and see what Google gives you.
405 151.379
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