SOLUTION: Carlo bought a house for $175000.His realestate agent told him that houses in the neighborhood appreciate in value by $5500 annually. When could he sell the house for at least twi

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Question 159433: Carlo bought a house for $175000.His realestate agent told him that houses in the neighborhood appreciate in value by $5500 annually. When could he sell the house for at least twice the purchase price?
Answer by jojo14344(1513) About Me  (Show Source):
You can put this solution on YOUR website!

He wants to sell the house at a price: $175,000*2=$350,000 (at least twice the purchase price.
Remember eqn:
Purchase Price+n(5500)=Selling Price,
where n= no. of years
175000%2Bn%285500%29=350000
n=%28350000-175000%29%2F5500=175000%2F5500
n=31.8years, let say highlight%2832years%29 before selling it.
THANK YOU,
Jojo