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coolaidd

You buy a house for $250,000 and it appreciates at a rate of 3% a year. How much will the house be worth after 3 years? Round to the nearest dollar.

  • one year ago
  • one year ago

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  1. tcarroll010
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    250000(1.03)^3 = 273182

    • one year ago
  2. coolaidd
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    thanks! I have like 2more questions like this.. you think you can help?

    • one year ago
  3. tcarroll010
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    I can tyr!

    • one year ago
  4. coolaidd
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    1) Find the amount of time it will take to double an investment of $400 with a rate of 4.5% compounded continuously. Round your answer to the nearest tenth. 2) Find the rate it would take to double an investment of $600 in 10 years if the rate is compounded continuously. Round your answer to the nearest tenth.

    • one year ago
  5. coolaidd
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    @tcarroll010

    • one year ago
  6. tcarroll010
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    First, the formula for compounding continuously is: \[A = P \times e ^{0.045t}\]

    • one year ago
  7. tcarroll010
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    \[800 = 400 \times e ^{0.045t}\] \[2 = e ^{0.045t}\]\[\ln 2 = \ln e ^{0.045t}\]\[\frac{ \ln 2 }{ 0.045 } = t\]

    • one year ago
  8. tcarroll010
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    t = 15.4

    • one year ago
  9. tcarroll010
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    For the second one,\[1200 = 600 \times e ^{(r)(10)}\] \[2 = e ^{10r}\]\[\ln 2 = \ln e ^{10r}\]\[\frac{ \ln 2 }{ 10 } = r = 0.0693\]

    • one year ago
  10. coolaidd
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    Thank you soo soo much!

    • one year ago
  11. tcarroll010
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    uw!

    • one year ago
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