Question

A house appreciates (grows in value) about 6% each year. If the house is now worth $158,000, in about how many years will it be worth $200,000? Use the equation 200,000 = 158,000(1.06)x to solve the problem. Round to the nearest year.

Answer 1

\(200,000 = 158,000(1.06)^x\)

take logs
\( \log \dfrac{200}{158} = x \log 1.06 \)