anonymous
  • anonymous
Tamara purchased a building for $114,750. The land appreciates about 2.3% each year. What is the value of the land after 11 years?
Mathematics
  • Stacey Warren - Expert brainly.com
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SOLVED
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schrodinger
  • schrodinger
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anonymous
  • anonymous
P(1+r)^x same thing, but it's i+r inside the bracket rather than 1-r, because the value is appreciating
anonymous
  • anonymous
1+r*
anonymous
  • anonymous
i'm soo confused!

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anonymous
  • anonymous
value of the land after 11 years = \[P(1+r)^x\] with P being your initial value( 114750) r is your rate the value increases each year as a decimal(0.023) x is the number of years (11)
anonymous
  • anonymous
so plug these values in, and you should get your answer
anonymous
  • anonymous
114750((1+0.023)^11)
anonymous
  • anonymous
how can it be 29 031 if the value appreciates?
anonymous
  • anonymous
you should get 147361.71
Ashleyisakitty
  • Ashleyisakitty
ah, you're correct

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