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Gre4nikov [31]
3 years ago
12

Suppose a house that costs $270,000 appreciates by 5% each year.

Mathematics
2 answers:
Kruka [31]3 years ago
5 0

Answer:

6 years.

Step-by-step explanation:

We have been given that a house that costs $270,000 appreciates by 5% each year. We are asked to find the number of years it will take the house to be worth 350,000 by using equation 350=270*(1.05)^x.

First of all let us divide both sides of our equation by 270.

\frac{350}{270}=\frac{270*(1.05)^x}{270}

\frac{350}{270}=(1.05)^x

Upon taking natural log of both sides of our equation we will get,

ln(\frac{35}{27})=ln((1.05)^x)

Using natural log property ln(a^b)=b*ln(a) we will get,

ln(\frac{35}{27})=x*ln(1.05)

0.2595111954850846=x*0.048790164169432

x=\frac{0.2595111954850846}{0.048790164169432}

x=5.31892441648

Since it will take more time than 5 years, so will round up our answer.

x\approx 6

Therefore, in approximately 6 years the house will be worth $350,000.

Thepotemich [5.8K]3 years ago
3 0

THE ANSWER TO YOUR PROBLEM IS 5 I HOPED I COULD HELP

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