Question

Joe bought a house for $200,000. The value of the house can be represented by the formula V = 200,000(1.035)t where t represents the number of years since Joe purchased the home. About how many years will it take for the value of the home to be worth more than twice its purchase price?

Answer 1

T=log(2)÷log(1.035)
T=20.15 years

Answer 2

Answer:21

Explanation:

The value of the home after 21 years is 200,000(1.035)^21=411,886.29