petra27 petra27

18-08-2020
Mathematics

contestada

Tracy purchased a building for $209,350. The land appreciates about 4.5% each year. What is the value of the land after 15 years?

Respuesta :

smatteson4768 smatteson4768

28-08-2020

Answer:

Future Value = $405,151.38

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FV = PV * (1 + R) ^ N

FV = $209,350 (1.045) ^ 15 = $405,151.38

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PV = $209,350

R = 4.5%

N = 15 years

Step-by-step explanation:

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