document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=54197>Question 54197</A>: <I><SPAN STYLE=\"word-break: break-all;\"> If a piece of real estate purchased for $50,000 in 1998 appreciates at the rate of 5% per year, then its value t years after the purchase will be<BR>\n" );
document.write( "f(t)=50000(1.05^t). According to this model, by how much will the value of this piece of property increase between the years 2007 and 2008?\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #36480 by </B><A HREF=/tutors/aboutme.mpl?userid=Nate><B>Nate(3500)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Nate><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=36480\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> 2007 - 1998 = 9 years<BR>\n" );
document.write( "2008 - 1998 = 10 years<BR>\n" );
document.write( "50000(1.05)^10 - 50000(1.05)^9<BR>\n" );
document.write( "Approx.<BR>\n" );
document.write( "81,444.73 - 77,566.41 = 3,878.32 </SPAN>\n" );
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