Beth paid 175,000 for a townhouse in downtown portland the values of the homes in that neighborhood have been increasing by 8% each year

b) assuming that this rate of increasing continues what will the value of the townhouse be in 5 years and 6 months?

c) assuming that this rate of increase continues, when will the town house be worth 500,000

Question

Walsh

25 May, 06:52

+1

Answers (1)

Know the Answer?

Nickolas Tanner · Answer 1

A=175,000*e^ (0.08*5.5)

A=271,723.76

T = (log (500,000:175,000) : log (e)) : 0.08

T=13.12 years