SOLUTION: If a piece of real estate purchased for $75,000 in 1998 appreciates at the rate of 6% per year, then its value t years after the purchase will be f (t) = 75,000(1 + .06t ) . Acco

Question 72294: If a piece of real estate purchased for $75,000 in 1998 appreciates at
the rate of 6% per year, then its value t years after the purchase will
be f (t) = 75,000(1 + .06t ) . According to this model, by how much will the
value of this piece of property increase between the years 2005 and
2008?
Answer by josmiceli(19441) (Show Source): You can put this solution on YOUR website!
Sometime in 1999, one year after purchase, the house has appreciated by
6%. By the formula, in 2005, 7 years after purchase, the house is worth

In 2008, 10 years after purchase, the value is

Between those years it has appreciated

answer
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