Here's the question you clicked on:
kelseylynne54
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?
P(1+r)^x same thing, but it's i+r inside the bracket rather than 1-r, because the value is appreciating
i'm soo confused!
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)
so plug these values in, and you should get your answer
how can it be 29 031 if the value appreciates?
you should get 147361.71
ah, you're correct