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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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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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Dec 5, 2019
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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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350000 = 270000(1.05)^n
1.05)^n = 350000/270000 = 1.296296
n = log 1.296296 / log 1.05 = 5.3 years answer
Jeffmayeur
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Dec 8, 2019
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