Question 72294
Sometime in 1999, one year after purchase, the house has appreciated by
6%. By the formula, in 2005, 7 years after purchase, the house is worth
{{{75000(1 + .06t)}}}
{{{75000(1 + .06*7)}}}
In 2008, 10 years after purchase, the value is
{{{75000(1 + .06*10)}}}
Between those years it has appreciated
{{{75000(1 + (.06*10)) - (75000(1 + (.06*7)))}}}
{{{75000 + .6*75000 - 75000 - .42*75000}}}
{{{.18*75000}}}
{{{13500}}} answer