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Shirley purchased a plot of land for $19,500. The land appreciates about 3.9% each year. What is the value of the land after fi...Asked by Anonymous
Shirley purchased a plot of land for $19,500. The land appreciates about 3.9% each year. What is the value of the land after five years?
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Answered by
Jesse
same thing as the other one i answered
the general case is:
new value = (old value)X(1+/-percent change)^years
remember that 1% = 0.01 in the above formuala, and that it's negative if it's "decreasing/depreciating" and positive if it's growing.
the general case is:
new value = (old value)X(1+/-percent change)^years
remember that 1% = 0.01 in the above formuala, and that it's negative if it's "decreasing/depreciating" and positive if it's growing.
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