Durng a 10 year perod of constant unflaton, the value of a $700,000 property wll

Question

Durng a 10 year perod of constant unflaton, the value of a $700,000 property wll ncrease accordng to the equaton v=700,000e^0.04t

a) What wll be the value of the property n 3 years? (Sub n 3 for t)

The value for the property n 3 years wll be $______________

b) Use a table or graph to estmate when ths property wll be worth double ts orgnal value.

(to determne when property wll be worth double, determne what the property value wll be when ts doubled (1,400,000) . Now, graph both values and fnd where they ntersect on graph, ths wll be the number of years you need to fnd),

The property wll be worth double ts orgnal value n ____ Years.

Explanation / Answer

a . 789247.8

b.1,400,000 =700,000e^0.04t

=> t= 17.329 yrs

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