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Paha777 [63]
4 years ago
11

Parcel of land is sold for 163000, it appreciates at 14% compounded per year. Seller keeps it for 7 years. How much would the se

ller pay for it?
Mathematics
1 answer:
Simora [160]4 years ago
7 0

Answer: $434, 306.4

Step-by-step explanation:

From the question,

P= $163,000

R= 14% ; 14/100= 0.14

T=7 years

From the formula,

A= Pr e^t

A= 163000e^0.14(7)

= 163000e^0.98

= $434,306.4

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