document.write( "Question 93514This question is from textbook Algebra and Trigonometry
\n" ); document.write( ": If a piece of real estate purchased for $75,000 in 1998 appreciates at the rate og 6% per year, then its value t years after the purchase will be f(f)=75,000(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( "

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If a piece of real estate purchased for $75,000 in 1998 appreciates at the rate og 6% per year, then its value t years after the purchase will be f(t)=75,000(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?
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\n" ); document.write( "Value in 2008: 75000(1.06)^10
\n" ); document.write( "Value in 2005: 75000(1.06)^7
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\n" ); document.write( "Increase between 2005 and 2008:
\n" ); document.write( "75000(1.06^10 - 1.06^7) = 75000*0.2872174376... = $21,541.31
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\n" ); document.write( "Cheers,
\n" ); document.write( "Stan H.
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