document.write( "Question 48008: My mind is fried and I am on my last problem for tonight but can't seem to figure out what I am doing wrong. Please help me solve this problem.\r
\n" ); document.write( "\n" ); document.write( "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
\n" ); document.write( "f(t)=75000(1.06^t). According to this model, by how much will the value of this piece of property increase between the years 2005 and 2008. \n" ); document.write( "

Algebra.Com's Answer #31746 by stanbon(75887) $\"\"$ $\"About$

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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
\n" ); document.write( "f(t)=75000(1.06^t). According to this model, by how much will the value of this piece of property increase between the years 2005 and 2008.\r
\n" ); document.write( "\n" ); document.write( "From 1998 to 2005 is 7 years, i.e. t=7
\n" ); document.write( "From 1998 to 2008 is 10 years, i.e. t=10\r
\n" ); document.write( "\n" ); document.write( "Value in 2008 is 75000(1.06)^10= $134313.58
\n" ); document.write( "Value in 2005 is 75000(1.06)^7 = $112772.27
\n" ); document.write( " The difference is $21541.31\r
\n" ); document.write( "\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H. \n" ); document.write( "

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