SOLUTION: if a piece of real estate purchased for 75000 in 1998 appreicated at the rate of 6%, then its value t yreas after the pruchase wo; be f(t)=75000(1.06 rised to t). According to this

Algebra ->  Trigonometry-basics -> SOLUTION: if a piece of real estate purchased for 75000 in 1998 appreicated at the rate of 6%, then its value t yreas after the pruchase wo; be f(t)=75000(1.06 rised to t). According to this      Log On


   

Question 62038: if a piece of real estate purchased for 75000 in 1998 appreicated at the rate of 6%, then its value t yreas after the pruchase wo; be f(t)=75000(1.06 rised to t). According to this model, by how much will the value of this property increase between the years 2005 and 2008?
Answer by josmiceli(19441) About Me  (Show Source):
You can put this solution on YOUR website!
f%28t%29=75000%281.06+%5Et%29
2005 - 1998 = 7 yrs
2008 - 1998 = 10 yrs
f%2810%29+-+f%287%29+=+7.5%2A10%5E4%281.06%5E10+-+1.06%5E7%29
f%2810%29+-+f%287%29+=+7.5%2A%2810%5E4%29%2A.2872
f%2810%29+-+f%287%29+=+2.154%2A%2810%5E4%29
$21,540 increase in value between 2005 and 2008