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14 December, 10:21

Suppose a house costs $270,000 appreciates by 5% each year. In about how many years will the house be worth $350000?

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  1. 14 December, 12:51
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    350000 = 270000 (1.05) ^n

    1.05) ^n = 350000/270000 = 1.296296

    n = log 1.296296 / log 1.05 = 5.3 years answer
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