Question

Shirley purchased a plot of land for $19,500. The land appreciates about 3.9% each year. What is the value of the land after five years?
$23,610.89

$19,818.94

$15,982.75

$23,302.50

Answer 1

Answer:

The value of the land after five years is $23,302.50.

Step-by-step explanation:

First you need to find 3.9% of $19,500 which is $760.5.

Then, you multiply 760.5 by 5 years and you get 3,802.5.

Lastly, you add 3,802.5 to 19,500 and get a total of $23,302.50.