Question

help me A real estate agent estimates that the value of office buildings in Lakewood will continue to go up by 5% per year. If an office building in this city is currently valued at $650,000, how much will it be worth in 10 years?

If necessary, round your answer to the nearest cent.

Answer 1

@rishavraj

Answer 2

@tom99

Answer 3

6500000

Answer 4

a good equation is:
\[Original Price \times Decimal Modifier ^{ Number of Changes}\]

so in this case
\[650000 \times 1.05^{10}\]

Answer 5

650000 * 1.62889462678 = 1058781.50741
Then just round

Answer 6

thank you so much ! @tom99

Answer 7

Typewriters are going out of fashion in the modern era. If 343,000 typewriters were sold this year and sales decline at a rate of 15% per year, how many will be sold 14 years from now?

If necessary, round your answer to the nearest whole number.

Answer 8

@tom99