15,590(1.05)^n = 55,433 , where n is the number of years
1.05^n = 3.55567.. (I stored it in memory)
take logs of both sides
nlog 1.05 = log 3.55567..
n = 26.00002..
I would say she owned it 26 years
I got 21 years and it was wrong. Can you help me solve this problem?
sometime ago, julie purchased 11 acres of land costing $15,590. Today, that land is valued at $55,433. How long had she owned this land if the price of the land has been increased at 5% per year?
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