Quantcast

Got Homework?

Connect with other students for help. It's a free community.

  • across
    MIT Grad Student
    Online now
  • laura*
    Helped 1,000 students
    Online now
  • Hero
    College Math Guru
    Online now

Here's the question you clicked on:

55 members online
  • 0 replying
  • 0 viewing

kelseylynne54

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?

  • one year ago
  • one year ago

  • This Question is Closed
  1. winterfez
    Best Response
    You've already chosen the best response.
    Medals 0

    use this formula \[P = C (1 + r/n)^{nt}\]

    • one year ago
  2. winterfez
    Best Response
    You've already chosen the best response.
    Medals 0

    C= initial deposit..r=rate...n=number of times you pay per year...t=time

    • one year ago
  3. Kelumptus
    Best Response
    You've already chosen the best response.
    Medals 0

    Let's start by thinking about growth (or appreciation). Growing something by 100% is the same as \[2^{1}\] Then if we grow by 200% we have \[2^{2}\] We can therefore generalize this to \[2^{x}\] Which means, double this x times but what if we refactor this as \[(1 + 100\%)^{x}\] We can of course change the 100% to any value we want. I hope this helps. To learn more on this, read http://betterexplained.com/articles/an-intuitive-guide-to-exponential-functions-e/.

    • one year ago
  4. winterfez
    Best Response
    You've already chosen the best response.
    Medals 0

    |dw:1354330474984:dw|

    • one year ago
    • Attachments:

See more questions >>>

Your question is ready. Sign up for free to start getting answers.

spraguer (Moderator)
5 → View Detailed Profile

is replying to Can someone tell me what button the professor is hitting...

23

  • Teamwork 19 Teammate
  • Problem Solving 19 Hero
  • You have blocked this person.
  • ✔ You're a fan Checking fan status...

Thanks for being so helpful in mathematics. If you are getting quality help, make sure you spread the word about OpenStudy.

This is the testimonial you wrote.
You haven't written a testimonial for Owlfred.