Asked by Anonymous
The value of your property is rising by 100,000 per year. If it is worth 1.5 million today what will it be in 10 years? Finding the equation of the problem using exponential form.
Answers
Answered by
bobpursley
No exponent needed: the value will be today's value + 10*100,000.
Now if the rise in value is tied to the present value, then you need a exponent
increase= 100,000/1,500,000= 0.0666
future value=1.5M(1+.06666)^10=2.85M
Now if the rise in value is tied to the present value, then you need a exponent
increase= 100,000/1,500,000= 0.0666
future value=1.5M(1+.06666)^10=2.85M
Answered by
Anonymous
Thank you
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