Got Homework?
Connect with other students for help. It's a free community.
Here's the question you clicked on:
 0 viewing
coolaidd
Group Title
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
coolaidd Group Title
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

This Question is Closed

tcarroll010 Group TitleBest ResponseYou've already chosen the best response.1
250000(1.03)^3 = 273182
 one year ago

coolaidd Group TitleBest ResponseYou've already chosen the best response.0
thanks! I have like 2more questions like this.. you think you can help?
 one year ago

tcarroll010 Group TitleBest ResponseYou've already chosen the best response.1
I can tyr!
 one year ago

coolaidd Group TitleBest ResponseYou've already chosen the best response.0
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

coolaidd Group TitleBest ResponseYou've already chosen the best response.0
@tcarroll010
 one year ago

tcarroll010 Group TitleBest ResponseYou've already chosen the best response.1
First, the formula for compounding continuously is: \[A = P \times e ^{0.045t}\]
 one year ago

tcarroll010 Group TitleBest ResponseYou've already chosen the best response.1
\[800 = 400 \times e ^{0.045t}\] \[2 = e ^{0.045t}\]\[\ln 2 = \ln e ^{0.045t}\]\[\frac{ \ln 2 }{ 0.045 } = t\]
 one year ago

tcarroll010 Group TitleBest ResponseYou've already chosen the best response.1
t = 15.4
 one year ago

tcarroll010 Group TitleBest ResponseYou've already chosen the best response.1
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

coolaidd Group TitleBest ResponseYou've already chosen the best response.0
Thank you soo soo much!
 one year ago
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
 Engagement 19 Mad Hatter
 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.